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Is This Why Copper Is Tanking?
From "world renowned" Dennis Gartman's letter to investors (sent overnight):
"NEW RECOMMENDATION: our interest in copper is piqued and we’ll “punt” copper this morning from the long side, buying May copper at or near to $3.0630/lb. as we can, with stops at this morning’s low of $3.025. We look for copper to make a run to $3.15 or even higher and on a close above $3.07 today… if possible... we’d add a 2nd unit to the trade."
Sure enough, first thing this morning:
The best "fade" $29.99/month can buy...
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Gartman thinks he is trading copper. How quaint. All he is really doing is putting in a bunch of paper stops to run after buying some paper contracts.
The guy has an excellent beard though - that alone is worth 29.99 / month.
<Note to self: grow beard, start commodities newsletter, and speak using the royal "We">
The dude turns a phrase like Yoda.
From upper Denis to lower Gartman
Copper is a by-product of GOLD mining, am I right?
In the vernacular of the idiot -- He's LONG OF Bullshit
Gartman is what is called a market maker in bullshit.
People pay for his advice? 29.99 / month * e.g. 1,000 muppets = "not a bad gig". Think I need a newsletter and promote it on TV
We used to have a corporate subscription to his newsletter until a couple of years ago.
The joke was that his view on energy sucked, but we liked him for his view on metals.
Then we found out that metals traders generally thought his metals advice was awful, but his view on grains was interesting to read.
Then we found out from some grains traders that his view on grains was generally regarded as a joke, but they liked reading him for his summaries of the energy markets.
He has a beard because shaving is prohibited under Leviticus 19:27.
Wasn't one of copper's main drivers the whole Chinese copper rehypothecation scam, as delineated by the scam-miesters themselves, Golem Sacks, here? :
http://www.zerohedge.com/news/2013-05-23/bronze-swan-arrives-end-copper-...
Peak Detroit? Sounds like piping from stripped-out houses has flooded the market.
Rusted Galvanized iron prpe, that's all you are going to find if anything in Deathtroite buildings. the real money is in bricks, 50cent ea.
!
Just curious. Gartman's office wouldn't be completely padded, would it?
Thought the wallpaper was a little strange,plus leaving belts,braces and shoelaces outside
was also weird.
LMAO
Doesn't Gartman have something like 12 cents AUM. Why does anyone listen to this guy.
Yeah...and he started the year with 50 cents ;o)
Somehow this just feels bad ... like kicking a puppy.
You'll get past that.
Lace up your steel-toes and have a whack at him. Trust me, you'll feel better, now that we don't have 'ol Tom Stolper to kick around any more.
How was happy hour last night?
One shall be Bullish of it no longer, as it is moving from upper left to lower right with authority.
i having a ball watching the phony paper prices of Gold and Silver trade perfectly sideways at the 1319.00 and 20.00 level, while the Fraud Markets go up and down from tripple digit losses to double...
how fucking stupid and obvious..
http://www.ingoldwetrust.ch/new-physical-gold-exchange-singapore
I was tipped of by one my readers on a new gold exchange operating in Singapore; Allocated Bullion Solutions Singapore. After taking a look on their website I asked their public relations desk for the details of their business. Websites can be incomplete and I wanted to be sure on what kind of exchange it was. They kindly responded whereupon a comprehensive Q&A followed.
Copper tanks? That's why the Chinese have been stocking up?
I don't think they'll be very effective on the battle field. Or, maybe they're fixin' to sell them to the Japanese or Filipinos. Copper would also be good camo against gray mountains and green jungles.
Keep your chins up, Gartman
What a retard. I do not know how anybody takes him, or Cramer, seriously.
Be great to have them do a show together, wouldn't it- more entertaining than most other crap on the boob tube.
Most plumbing installers are now using PEX water lines, and only the fittings are copper.
http://www.pexinfo.com/
I got that pex shit..it better be durable.
Nice. Now instead of PVC they are running water hoses through the house. What next? Buckets from the creeks?
And less copper supply means less silver supply
Contamination from PCBs should be a boon for the healthcare industry.
"Most plumbing installers are now using PEX water lines"
had one of those PEX lines fail in my RV. What a pain in the nutt to repair. The little copper compression rings seem to have a tungsten core or something. What a bear to remove. And, you need special (and somewhat expensive) tools to crimp the rings to the fittings.
Dam that shits funny
Is there anyone here that doesn't believe copper is rigged, and that this alleged guru is just another banker shill, like that bloviating Keynesian shill seen in the new york times
What's his recommendation on WTI? I want to sell the shit out of it above 104, but need a sure sign
http://www.usatoday.com/story/money/cars/2013/12/26/plug-in-cars-electri...
Goddamnit Gartman...
I'd pay good money to see a cage match "to the death" between Dennis Gartman and Joe LaVorgna.
Off topic but you may have started something here. How about Al Gore vs. Joe Barton (R, TX), Chairman of the Energy and Commerce Committee, BP apologist and next House Majority leader?
yeah, yeah....always up for a good death match. Next up we need to get Suze Orman vs Blythe Masters....ok scratch Suze and substitute Hillary "the Killory" Klinton ! ! ! ! ! !
Then maybe Greenspan vs Buffet.....Bernanke vs Barney Frank..........Maxine Waters vs Yellin........options are limitless.
Jaws II Jay Leno vs. Ron Pearlman
This deserves its own thread Tyler. Make it a regular.
Peggy Noonan vs. Gina Carano
Live blog: Resignation of HHS Secretary Kathleen Sebelius - Health Exchange - MarketWatch
well, gartman is your asswipe and icahn is you hero. but gartmen's been right about him being scared about the markets dive, and carl is a billion $ man so he is you hero. worshipper of the moneyed man.
Gartman also said to go 'cash' on equities given the volatility, but is this mentioned, no!!!!!
Also look at the stop loss he highlighted, a good stop loss given the circumstances.
Please be balanced, this site has some good articles
Obama is crushing the market bounce. get him off the tube ASAP.
The iconic "go to" CNBC guy. Zero economic credentials, sub zero "prognostications."
Like anther famous network, the only criteria for "guest experts" is that they be even more retarded than the "hosts."
Note to Denis : Don't try to predict manipulated markets!
A few years ago his letter one morning stated they were long BAC and one of the banking indices. On that particular day the markets, especially the financials, got crushed which couldn't have been good for Dennis but when he was on CNBC that evening he claimed "they had been short financials." He is a lying shill.
I read yesterday that Gartman recommends staying out of stocks for anywhere between 1 and 3 months. Must be a good time to buy.
When I hear Gartman, I interpret as Cartman
http://www.youtube.com/watch?v=X8pHUZJeRB0
In a sane world, a scarce resource becoming cheaper would be a good thing.
I hope copper dips to zero, so I can buy up a ton ! make fancy doo-dads and nick nacks out of it ;P