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Gartman Humor: "We Erred Once Again... "
Arguably the best contrarian indicator in the market actually admits it this time. From Dennis Gartman's letter this morning:
We erred once again in heading to neutrality for the trend of this market remains upward and there is and has been and likely shall remain enormous levels of suspicion about the validity of the bull market to keep the market climbing the proverbial “Wall of Worry.” At least we’d the wisdom not to take the other side of the trade and become net bearish of equities as some of our friends have tried to do and have indeed done, making wonderfully elegant, perfectly logical arguments as to why the market is overbought and why it is ill and illogically priced. At least we’d the wisdom earned of damages done to ourselves in years past only to take the least detrimental position one can have, that of neutrality;
However, this latest ramp may well be over:
... now we have to look to use any periods of weakness to cover in hedges put into place in order to get ourselves net long once again. The trend remains upward; we must always remind ourselves of that fact: “Old Turkey” of Reminiscences of a Stock Operator’s fame was right when he said that “After all, this is a bull market.”
That will be $29.95
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Sell now.
Dennis Gartman: long of stupidity.
No one knows wtf is going on.
I am surprised that this guy dont have a black eye or some welts on his head each week he shows his mug on CNBShit...i mean when that fucker goes outside, I am sure somebody out there on the streets must have been screwed by listening to his picks, no?
In case one expects persistent inflation and "rigged" low interest rates, I would suggest not to sell. Neither equity, nor gold, nor land, nor real estate.
I believe, what we see in asset prices might be the beginning of a desaster hausse. Anticipating currencies losing a LOT of purchasing power. Zerohedge isn't consistent in suggesting to sell equity and to buy gold at the same time while prognosting a currency crisis.
gartman should go long 50 units of stfu.
How much for the daily newsletter Dennis, used to be only $400/yr... could make a fortune fading your "lower left to upper right" brilliance
More shocked that someone hasn't knocked Cramer into tomorrow land in the CNBS parking lot or wherever his joo kids play soccer
poor dennis; somebody needs to tell him the stock market is rigged.
how do i know it's rigged? EVERYBODY KNOWS the S&P500 will close at a record high today.
i'm a fook'n genius.
does this bonesmoker even have a modicum of dignity........hehehehehe
Does he some how get a cut of trading fees?
Somebody get this dude a S&P chart....
Which way is it pointing?
Must be incredibly difficult for people to unsubscribe from his newletter... He should be out of business.
I'll tell you what. I have been reading him for 15 years. I have spoken to him in person. He is just a trader who reads alot and forms opinions and sells himself on TV in order to make his family wealthy. I do not have a problem with that. Few who read him do so for his directional calls on stocks or anything else. You read him for his bringing to you news you would not otherwise read about. So while it is fun to poke at him when he makes a bad call, best not to get out of hand. Especially as calling stocks is pretty difficult as any ZH reader should know. Like ZH I have been bearish for a long time. And wrong. Last year was the first year in many i have not had a short position in equity indexes at all. Good for me except that I was also not long in a year when the market went straight up, which was pretty predictable with freaking unbelievable unlimited QE on the table.
A cursory examination of the chart of the S&P indicates exactly what Gartman is saying. It is moving from the lower left to the upper right. His rules say that when that is the case you are either really long, sort of long or flat. What do your rules say?
Get physical.
He has been consistently wrong for the past few years re: his short to medium term calls as has been very well documented here... if you need someone to "synopsize" world events from an arrogant, neo-con P.O.V. then he's your man!
PS "best not to get out of hand" wtf?? ... who died and made you the school marm/watchdog of this website?
So wait, he's a commodities "guru" and also a stock market timer, and a precious metals genius, and he can tell you all about the winter wheat crop in Nebraska, and then tell you how to trade WTI, and soybeans, and then...your money is gone
BTFATH... Chase that FATH... Buy whatever's going up today. Sell whatever's going down...
Follow that herd
By neutral, I think he means get on the sidelines in cash. Sell everything. Don't add any new long positions, don't short anything. Just wait in cash until something happens. Never be in a hurry to lose your money.
Dear Client,
Whatever you do, do not buy the index. This is a basket of stocks that has continually risen in a stunningly methodical fashion for five years now. Definitely keep selling low and buying high as we have instructed.
Thaaaaanks
Hard to believe people still pay this guy to write that shit.
BOP I have a feeling he pays CNBC significantly more to get his stupid face put on TV than anyone pays him to wreck their retirement account.
"Buy Twitter now - that's my best idea. It's a bird like an Old Turkey. So it will fly" Gartman
"As God is my witness, I thought turkeys could fly"
(best line ever from WKRP in Cincinnati, after a problematic "turkey drop" into a shopping center)
One of my favorite episodes, ever!
i don't know why you people can't get over that he is a TRADER not an investor.
he will be wrong on thsi call but he stays wrong for about 14 nanoseconds before hs tries to get back with trend.
If you actually tried to follow his advice, you will churn your money so bad, that you'll lose almost as much in commissions as in stock price.
He is actually neither a trader or an investor. He makes his money writing nonsensical newsletters and filling up air time on CNBC.
well, you just got two out of three wrong, what does that make you?
just wrong. not a lifetime sentence though. you get another chance this hour if you want it.
I stand by my statement (unlike Gartman, I won't change my opinion tomorrow). But in any case, I charge nothing for all the wisdom I dispense on ZH. Take it for what its worth.
weed the wisdom, man. *Weed* the wisdom.
Newsletter writers are still in business?
Maybe this time it's different? Maybe the proverbial shit will never hit the fan?
Until it does.
Why would you expect newsletters to die? Some of them are interesting. They give useful information about certain trends. A lot of those companies looking for shale oil are worthless, but who is selling water to them? Who is selling shovels to them? Buy the company selling water.
How does this assclown still have any credibility?
I keep asking myself this question about the Fed!
He will eventually gain the wisdom of staying completely off the market and become a burger flipper. Safer.
What a fucking retard! I should charge Gartman for having to read his moronic reasoning.
REASONING??? Which section of thevdrivel was that???
This is not any ordinary kind of bullshit.
This is bullshit deluxe.
Thanks for spewing Cartman. How's Kyle's mom?
Screw you guys, I'm going home.
Kyle mom's a bitch. She's a big fat bitch.
She's the biggest bitch in the whole wide world.
She's a stupid bitch if there ever was a bitch.
She's a bitch to all the boys and girls!
On Monday she's a bitch. On Tuesday she's a bitch
On Wednesday through Saturday she's a bitch.
Then on Sunday just to be different she's a super king kamaya-maya bee-atch!
Have you ever met my friend Kyle's mom she's the biggest bitch in the whole wide world she's a mean old bitch and she has stupid hair she's a bitch bitch bitch bitch bitch bitch bitch bitch bitch bitch bitch bitch bitch bitch bitch she's a stupid bitch! Kyle's mom's a bitch and she's just a dirty bitch!
.
He should give Ron Insana a call and open a hedge fund together.
Gartman long on sail boats.
This guy is hilarious.
One day, he will (by accident) get a huge call right and be the next Paulson one-hit-wonder.
Either aware or unaware, he's part of the choreographed market...making money move from pocket to pocket
Hypothetically, what happens when Gartman and Cramer take opposing ends of the same trade?
Guy is classic...booked solid on CNBS and MSNBC for the next twelve months along with Mark Zandi.
More tools in the tool box.
That's it. . .going short at precisely 11:29 am. Fuck it, drilling holes.
That'll teach em
They talk funny in South carolina...
Gartman is Long of Bullshit
Hey now, we are a red state. I'll never lose my northern accent. Don't forget when a guy from SC cut the White House lawn during their bullshit closing the government on a debt ceiling debate.
God Bless this SC man\
http://www.buzzfeed.com/ryanhatesthis/there-is-some-random-guy-mowing-the-lawn-of-the-lincoln-memo
And they say no one rings a bell at the top. Gartman could get a job on the gong show...
Unfortunately for the san people it feels like everyday they ring the closing bell at the top.
Cue Gene, Gene, the Dancing Machine.
http://youtu.be/ACpNVD5GMUw
Once again, sing to the tune of Batman:
Na na na na na na na na FARTMAN!!
Dennis Gartman should be shipped a pair of stupidity endorsed, John Kerry flip flops.
Perhaps one day he will become self aware, i.e., the market moves against him precisely because he is in it.
This man's track record in trading is worse than Obama's track record of telling the truth.
I'll just ride the inflation paper money pumped market. Thanks.
I can relate with him!
ZH has been calling a top for 5 years
ZH has been late, and I have been late (many of us have), on figuring out that we are and have been in a full blown centrally planned communist style economy for some time now. A world totally opposite of the world we ideally believe we are in - that of a free market capitalist system (the one we were told we had in school but should all now understand that this like much else we learned in school was complete bullshit).
14 weeks 1 day. A quick flight to your communist city might help.
Lenin Asks: What's The Worst That Can Happen?
Markets do not climb a wall of worry. Morons continue to pile in without any knowledge of stocks, business or valuations. But, hey, in a centrally planned economy that continually bails out the losers, you can afford to be stupid.
The "Morons" have been cleaning the clock of shorts for 5 years and counting. New Porsches, homes, Caddies, Buicks, Golf clubs (http://www.therichest.com/luxury/most-expensive/the-most-expensive-golf-...) bejeweled tiaras for mistresses, beluga, and $250,000,000 "Apartments" have been selling out.
There was never any worry when ZIRP began the S & P march from 666 to 1900 and beyond.
The FED is dead? Long live the FED.
You go, J Yell!
We can send you on United Airlines to double up on 400 feet airline points.
I heard both Dennis Gartman and Mark Zandi got a job for the circles as clowns. They will be hanging on that Clown Chandelier act! :)
https://imgflip.com/i/91fcp
FREDO. cue video.,
He is no stupider than most commentators on here who have been calling for an end of the bull, some for years. The easiet thing to do is just learn to read a chart.
The chart is to GPS for your ass when Janet Yellen doesn't hit the Fed digital keyboard buy key. Many EBT centers may be down.
sweet i was looking for a good indicator for a top tick. odd this year with the holiday being Monday...the 3-day settlers can still sell Tuesday for month end. June this year starts on 5/27.
have we had ANY long holiday weekends in the past 5 years where the spx hasnt ended 'strong' on the Friday going into the holiday?? seriously. whenever it looks about ready, and then I see a holiday, its like, well it'll never go down into a long weekend, so wait till next week, every time it feels like.
I do so love the covering of the ass in Harvard speak.
You are right Jim. Every time I start to panic I scan the charts and realize that 150 points on the Dow isn't what it used to be.
The charts tell you when to panic.
And yes I know when the shit hits the fan, the markets hit the breaker day after day.
That happens when the Gartmans of the world cover all their hedges.
That's the value of the Gartman Letter apparently.
The financial investment firm of Moe, Larry, Curly.
Dennis Gartman's Coat of Arms (translated from Latin)
"I am wrong - therefore I exist"