The Gilmo Report

January 12, 2020

January 11, 2020

The Force has been strong in this market (yes, I did just go see the latest Star Wars movie), and new highs have been the order of the day once the headwinds presented by the short-term Iran Crisis blew over. That all sent the NASDAQ Composite Index and the other major market indexes to all-time highs on Thursday.

On Friday, the indexes ran out of gas as they reversed from new-high price territory to close in the red. At this point, the market is quite extended on the upside, so a pullback would not be surprising, especially when we consider how extended the stocks that have led this rally have become.

 

The rest of this report is available for Gilmo Report Members only.
The full report will be available 45 days after it is posted. For immediate access: login or subscribe

Gil Morales & Company, LLC (“GMC”), 8033 Sunset Boulevard, Suite 830, Los Angeles, California, 90046. GMC is a Registered Investment Adviser. This information is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to GMC, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Gil Morales & Company, LLC. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2008-2019 Gil Morales & Company, LLC. All rights reserved.