The Gilmo Report

October 25, 2020

October 25, 2020
In the early 2000’s, when I ran money for Bill O’Neil, I had the privilege of beta-testing the firm’s original chart-pattern recognition software. Basically, what it did was identify base patterns on the chart and outline them, much like what MarketSmith® does today. At that time, I was testing it on WONDA®, which was MarketSmith’s institutional-level big brother. In order to determine... Read More
MOST RECENT

October 21, 2020

October 21, 2020
The market has had a news circus atmosphere that reminds me of the China trade talks. Statements filled with innuendo about possible deals, constructive talks, hopes for a deal, etc. have been the order of the day as they were back during the China trade talk episode. In the end, nothing truly substantial with respect to the meatier aspects of U.S.-China trade... Read More

October 18, 2020

October 18, 2020
Way back when I ran money for Bill O’Neil, we were discussing the concept of double-top formations and their implications for future price direction. Bill admitted that these can be bearish patterns but also reminded me that “every cup-with-handle starts out as a double-top.” The difference, of course, is that it forms a handle and sets up before moving higher, whereas a double-top... Read More

October 14, 2020

October 14, 2020
A gap-up open on Monday has not resulted in any follow-through by the major market indexes although some are calling the NASDAQ Composite’s move on Monday a follow-through day. As you know, I have no use for such concepts, since stocks were already flashing buy signals along their lows 3-4 weeks ago as noted in these very reports. The two-day sell-off so far has occurred... Read More

October 11, 2020

October 11, 2020
The market is challenging the crowd’s assumption that no stimulus deal will result in a negative response from stocks. The Senate Majority Leader has made it clear that the Senate will not go for a big stimulus bill, regardless of whether it comes from the President or the House. To me it appears that a stimulus bill is DOA, but the market doesn’t seem to be worried about this. Does it... Read More

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