The world is suddenly a very sad place: people killing people across the globe, deadly viral epidemics claiming over a thousand, hate crimes, human misery and drama at levels not seen in years. What is one to do to find a little precious humor? Why read this latest Dennis Gartman excerpt ahead of his daily CNBC appearance of course.
The “War” fears on Friday that seemed so palpable and so serious were erased within hours and several of the positions we had had on and were frightened out of because of these war scares turned sharply back in what would have been our favour. Such are the vagaries of “war” and such are the vagaries of trading. We were “frightened” out of the short Brent/Long WTI trades; we were “frightened” out of the short positions in crude generally, and we were frightened out of the short Yen/long “English” speaking currency positions. We’ll return to the Yen related positions sooner rather than later; we’ll almost certainly return to the short Brent/long WTI spread sooner, too, rather than later, but for now we’ll bide our time, wounds licked and bound in the process.
The smile alone is worth the $29.95.