The Gilmo Report

March 13, 2019

March 13, 2019

I wrote over the weekend that, “Friday’s action had the feel of a low-volume shakeout on the fifth day of a sell-off from the recent highs.” The action so far this week has confirmed that assessment. If there has been any wrinkle to the trading week it has been the fact that big-stock NASDAQ names have been surging, led by Apple (AAPL).

The stock was upgraded on Monday, leading to a gap-up move on average volume. This did not qualify as a buyable gap-up since volume was nowhere near where it needed to be for a BGU. Nvidia (NVDA) announced they were buying Mellanox Technologies (MLNX) for $125 a share, and it responded with a pocket pivot off the 50-dma and up through the 10-dma and 20-dema on Monday.


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.