The Gilmo Report

November 21, 2017

November 21, 2017
Two days into the shortened Thanksgiving Holiday trading week and the market just steamrolls higher. The NASDAQ Composite Index enthusiastically gobbled up all sellers and flew to a new high on higher volume. If this breakout holds tomorrow, then investors will certainly have something to be thankful for come Thursday.   ... [more]
MOST RECENT

November 19, 2017

November 19, 2017
Three gap-down opens on Monday helped to summon the Ugly Duckling, who came to visit with a vengeance on Thursday as the indexes gapped up and just kept rolling higher right into the close. Interestingly, the stage was set on Wednesday for an Ugly Duckling visit when the NASDAQ Composite Index undercut a prior low in the pattern from early November. Within that context, Thursday’s... [more]

November 15, 2017

November 15, 2017
Two gap-down opens on Monday and Tuesday that looked potentially gruesome at the start fizzled out with the indexes closing well up and off their lows. But this only served to condition investors that every such gap-down was just another opportunity to “buy the freakin’ dip.” I believe this is more commonly known by the acronym “BTFD,” although the choice of F-word might vary among those... [more]

November 12, 2017

November 12, 2017
The market pulled another one of its “pull the rug out” type of moves on Thursday, something that is not uncommon in this market. A big futures-led gap-down open took the Dow Jones Industrials Index down around 250 points, or a little over 1%. In a market that seldom pulls back 1%, this counts as a bear market of sorts. In the process, leading stocks start to look ugly... [more]

November 8, 2017

November 8, 2017
The market has a bit of a bifurcated flavor here as we see short-sale opportunities crop up in certain individual stocks. But, the primary index trend remains to the upside, and the long side of this market is still driven by the theme of “stocks are the new bonds.” The other strong theme here is the idea of buying stocks after earnings if an opportunistic set-up arises, and there have been... [more]

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