The Gilmo Report

November 6, 2019

November 6, 2019

Each of the Big Three market indexes, the NASDAQ Composite Index, the S&P 500 Index, and now the Dow have all now stepped into all-time high price territory. As the indexes move into new high ground, however, there has been noticeable churning with successively higher volume, as can be seen on the daily chart of the NASDAQ Composite below. Today the indexes pulled in to fill Monday’s gap on slightly lighter, but above-average volume.



Despite the moves to new highs in the Big Three, I’m still finding that the short side remains more than viable as former leading stocks continue to break down. Not only that, but I find myself in a familiar position, where the indexes are again at all-time highs but there is very little that I find all that appetizing on the long side.

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.