The Gilmo Report

January 6, 2021

January 6, 2021 7:09 pm ET

The idea of a Blue Wave as Democrats won Senate seats in Georgia yesterday gave the market a case of the blues this morning. Techs took the brunt of the selling at the open as the NASDAQ Composite Index and the other averages opened down this morning. But the realization that a Blue Wave also likely means trillions more in fresh QE finally overcame the market and stocks began to rally off the morning lows.

Things were moving along nicely until it was reported that protestors had broken into and were occupying the U.S. Capitol building in Washington, D.C. This sent everything into reverse. By the close, the NYSE-based indexes had given up a good chunk of their earlier gains while the NASDAQ ended in negative territory, led by a 1.4% decline in the NASDAQ 100 Index.

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. ©2008-2020 Gil Morales & Company, LLC. All rights reserved.