Dennis Gartman

The Market's Biggest Permabull Is "Scared About The Month Of August"

JPM's former permabull, Tom Lee, needs no introduction: any time he appears on CNBC, his advice has been simple: buy it all. Which is why we were surprised to read that while Lee remains generally bullish on central planning, and its most direct manifestation, new all time highs, he writes in his latest commentary that he is "scared about the month of August."

Oil Surges After Gartman Exits Crude Long

"this aggressive “bidding” is sufficient to cause us to abandon our modest, one unit long positions in crude immediately upon receipt of this commentary. Being wrong is part of the business we are in; remaining wrong is anathema and the market is about to tell us that we are very, very wrong."

Gartman Capitulates On Shorts: "We Have Had Quite Enough; We Want Out Now"

As noted here Wednesday, June 29th we had orders in the equity futures markets to sell the S&P at 2045; to sell the EURO STOXX 50 at 2837 and to sell the Nikkei at 15,800…two thirds of a unit for each so that we’ll be short of two units in total now that all are filled. As of this morning, the S&P is 2127 (-4.0% against us)... We have had quite enough; we want out now… losing 1.6% on average. Cover these positions immediately… or sooner.

Gartman Is Selling The Rally

"We shall have orders in the markets today to sell the mid-points of all three indices; that is, we’ll sell the S&P futures today if 2045; we’ll sell the EUR STOXX 50 at 2837 and we’ll sell the Nikkie futures at 15,800… two thirds of a unit for each so that we’ll be short of two units in total if all are filled."

What Changed? Bernie Sanders Will Vote For Hillary, Less Than 24 Hours After Saying "No"

On "The Late Show" on Thursday night, just last night, Bernie Sanders gave a clear "No" when asked if he was going to endorse Hillary Clinton, because Sanders wanted his supporters to be heard, and the Sanders camp wasn't sold on Clinton's ability to move in the direction that was necessary. The next morning, like magic, Bernie pulled a Dennis Gartman, and flipped when he told MSNBC that he was going to vote for Hillary after all.

Gartman Flip-flops Again: 'The Trend Is, Has Been And Shall Be Upward"

"The trend is, has been and likely shall continue to be upward. TINA rules the day; TINA is “Queen.” TINA it is then. It will end when it ends and it will eventually end badly of course for such things always do.  But between now and that hundred years the trend for interest rates is lower and the trend for equity prices is higher."

The Selling Returns With A Vengeance: The "Smart Money" Dumps Most Stocks Since mid-April

BofA's "smart money" clients returned to selling US stocks last week, after a week of net buying. They have been sellers in 19 of the last 20 wks. Net sales soared to $3.8bn last week - the largest since mid-April, with selling led by institutional clients. Net sales of single stocks were broad-based across sectors; ETFs, meanwhile, saw net buying.

Gartman: "The World Is Finally Awakening To The Fact That World War III Has Begun In Earnest"

"... the world is finally awakening to the fact that World War III has begun in earnest; that the Islamic World and the Judeo-Christian world are now truly at war in the aftermath of the murders in Orlando over the weekend. We are of the latter school of thought. We are convinced now that even the Obama Administration can no longer avoid the facts of the age; that Islam and the West are at enmity one with the other and in this light equity investment is wholly ill-advised."

Dennis Gartman Mocks Bill Ackman's "Demise"; Tries To Understand Bitcoin, Fails

"This is an enormous tragedy of huge proportions being played out here before our eyes. Mr. Ackman’s investors did not deserve this fate, but they are being forced to live it nonetheless. How truly sad. He averaged down… again… and again…and again… and again. His eventual demise is a lesson to us all. Would that we learn from it: This is Greek tragedy of the saddest kind. No one deserves this fate"

China Sends Yellen Another Warning, Fixes Yuan At Lowest In Over Five years

We had expected sailing would not be smooth for the FX market, when on Friday afternoon, after Yellen's' unexpectedly hawkish comments at Harvard, which sent the USD surging, we predicted a stormy sea for the Monday Yuan fix.  That is precisely what happened when moments ago the PBOC set the official exchange rate of the onshore Yuan lower by nearly 0.5%, from 6.5490 to 6.5794, the lowest fixing in more than 5 years, or February 2011.

"The Stock Market Won't Crash, Yet" - The Barron's Cover Strikes Again

When it comes to Wall Street cover page superstitions, nothing beats the Barron's front page article jinx: just when you think something will never happen, Barron's confirms it on the cover, virtually assuring that it does. In which case, be afraid bulls, be very afraid, because if past is prologue Barron's just green-lit the next crash.

"Run For Cover If You’re Short" Gartman Pleads One Day After Saying "2,025 Is A Given"

"Anybody who's short - and there are a lot of smart people who are in fact heavily short - they have to run for cover, and I think it could get ugly.  In our account here, we quite literally were grasping for almost anything we could to reverse our position. Covering… or actually greatly reducing… our short position in the derivatives market was the first course of action.... We’ve learned over the years that when such things occur it is better to “shoot first and ask questions later."