The Gilmo Report

March 17, 2019

March 16, 2019

This market reminds me of late 1999 when stocks kept running straight up, defying gravity. In this market, however, there is no gravity, there is only QE. The flood of liquidity that remains in the system and which may be expanding again as central banks around the globe move to reverse their earlier gestures toward tightening continues to drive stocks ever higher.

After a brief pullback last week, the market has jacked back to the upside with a vengeance. Several upside days over the past week have seen advance-decline numbers in the 20 to 1 range, which gives testament to the veritable blizzard of upside movement among leading and not-so-leading stocks.

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.