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Is This Why Stocks Just Ramped To Intraday Highs?
The answer, you guessed it, is the "Gartman fade" yet again, and the reason why several hours ago we tweeted this:
Buy everything: Gartman just flip flopped again
— zerohedge (@zerohedge) September 10, 2014
To wit:
We are “uncomfortable” about the prospects for the broad market here in the US and abroad and we’ve bought derivatives sufficient in size to bring our net exposure to the equity market back to neutral once again. With 9/11 upon us, and with the very real possibility of al-Qaeda or the ISIL or some other “radical” fundamentalist, Muslim terrorist group… or some fanatic lone wolf… to wreak havoc upon the West seems uncommonly high. It is better to err upon the side of neutrality than to make large, or even modest, bullish bets at this point.
The rest is ramp history.
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Darn that Gartman. Just when my shorts were getting some traction...
I was thinking it was this: http://news.yahoo.com/putin-tightens-control-defense-sector-criticizes-n...
But who knows these days
Why need the Fed and trillions of dollars of liquidity when its much cheaper to get Dennis Gartman on CNBC every fuckin day and saying that he would stay the fuck outta the stock market...hence signalling to the 'inverse' algos to ramp the markets to new highs
do we really even need a pretext to ramp stocks now? aren't we well beyond that by now?
Tomorrow stawks will ATH due to the fact that no attack took place. Because an attack for tomorrow is already 'priced in'.
Behinding is much worse than Beheading. Ask Obama how he gets from Reggie!!!
Why in the hell has gold dropped $50 over the past week?
Because the central bank total control meme remains intact. As long as everything is going according to their dictates, expect gold to continue to fall in price. Gold is these days a bet against faith in central banking above all.
No, something is different. The CB's jump in when gold gets past $1300/ounce, then slam it down below $1300. rinse, repeat. It's not a one day dump. It's consistently falling, and I have yet to see a good explanation.
As kliguy38 would say -
"You flippin' moron, stupid dumbass, they have a printing press and you don't. I keep telling you this and you f***ing never listen because you're such a stupid turd."
I, of course, will just point out to you that they, the central banks, have total control of monetary policy at this time (printing press).
Exactly. Everyone here knows that they will eventually blow up the machine by working it too hard (abusing their 'exorbitant privilige'), but no-one knows when that will happen (my guess - before the decade is out).
When it does, gold figures to be a good asset, but not sure anyone wants to live through the anarchy / tyranny that is the likely outcome.
Again, something has changed. PAy attention
Absolutely true. And since all the central banks are working in unison now,their shenanigans will continue for a very long time - likely decades. Gold is absolutely going to $1200, and I think it will fall right through that level in a heartbeat. There should be a pause at $1000/oz., and that will be the time to assess gold price direction. Until then, you can wait patiently on the sidelines, average down, or sell into weakness.
because "they" want it to. In normal times, these recent events would send it to the moon!
Isn't gold a hedge against devalued dollar. Dollar weakens (QE printing press on) along with ZIRP, gold is good. Dollar strengthens with higher rates and less printing on the QE side, gold is going down. Not a perfect relationship, but if I were to think the dollar would appreciate in value (rates higher) then I would not be loading up on gold right now. Higher rates = dollar more expensive to obtain, less supply of dollars and therefore takes less dollars to buy things (deflationary for physical assets, gold, houses, stocks, etc,...)
I'm not saying they don't manipulate here and there, i.e. crush gold when they are printing a shit load of money, i.e. QE'finity 85 billion a month. But then again gold had a huge run from 2009 to 2012. Interesting observation is when the 85 billion a month started gold got taken down to today levels from around 1650. That was the start of the gold collapse. Maybe it was part of the well coordinated QE blitzkrieg with Bernanke going 85 billion, Draghi saying "anything it takes" and they send gold into a correction through manipulation. Trying to force people to invest and spend isn't helped when someone just takes their money and buys gold bricks, I guess would be their thinking.
Anything, ANYTHING, to try and keep the 'markets' up. Truly pathetic.
DavidC
Can I just say that I am growing very irritated and bored with these constant 24/7/365/millisecond control efforts? Janet looks a bore and she and her ilk have sucked all the fun out of these """markets""" so they are acting boorish as well.
You'd better get used to it, as there's no escape.
Long alcohol, lead and aspirin.
Short honest accountants.
There are honest accountants? Shit it's been "mark to fantasy" for quite some time.
it was the dukes. it was the dukes. [/valentine]
he is the william shakespeare of CNBS, better to err ...than to have never been vanquished ...in the arena of market bullshitters like me...
when the choir starts singing....
"to wreak havoc upon the West seems uncommonly high"
Listen. One has to say "HUMmmmm", "I WONDER WHY"?
(911 Trrrrist Song)
I'm a little teapot, short and stout
Here is my handle (one hand on hip), here is my spout (other arm out straight)
When I get all steamed up, hear me shout
Just tip me over and pour me out!
(As song ends, lean over and tip arm out like a spout.)
I'm a clever teapot, yes it's true
Here's an example of what I can do
I can change my handle to my spout (Switch arm positions and repeat tipping motion.)
Just tip me over and pour me out.
I bet Gartman bought version 6 of the wheel too...
market bounce in anticipation of teleprompter being turned on
haha of course the moron brings up 9/11. The best time of year is this week when people say th stupidest things. 20 years from now after zero happens on the supposed anniversay in the 34 years since, people will still bring it up with the fear mongering.
No. It's because they're trying to use AAPL and NDX to lift everything else. Throwing it all at AAPL.
"market"--- LOL!!!
Bah, it works until it doesn't. As an indicator, those 15 minutes are about done.
Piss off douche!
Listen. Who the fuck was the "JOKER" who named 'em navel intelligence? Was that "HUNT" himself? Cruel fucker indeed.
Silly me, thought it might be more sanctions, another cease fire, or the fact that they're going with arming the moderate rebels, the vetted ones to bring down Assad and the the worstest most advanced army ever know to mankind, Isis or Isls, or allCIAda or whatever they're calling them along with Putin and those crazy Scots.
Scottish independence NO vote takes the lead.
Does Gartman and Bernanki blow each other while Yellen watches?!
"Alibaba 2014" does "United (the friendly skies) 2001"...
Our entire life experience is manipulated to give them the advantage.
Or, put differently,:
HOLY SHIT, tomorrow is September 11th.
Never long of brains,
Dennis
We are “uncomfortable” about the prospects for the broad market here in the US and abroad and we’ve bought derivatives sufficient in size to bring our net exposure to the equity market back to neutral once again. With 9/11 upon us, and with the very real possibility of al-Qaeda or the ISIL or some other “radical” fundamentalist, Muslim terrorist group…
Would be wonderful if Gartman said this and mentioned ISIL instead of "ISIS"!...
The Scottish independence polls are usually a sample of 1,000 or so people out of 5m. Completely irrelevant.
New SAT Question:
Dennis Gartman is to Stocks as ________________ is to Precious Metals
A) James Turk
B) Tarot Deck
C) Ouija Board
D) Magic 8 Ball
+100
Never confuse trading with trying to be an analyst. Gartman tries both and finds his "analysis" sucks for his trades. Do yourself a favor Dennis, pick one or the other and give up on the idea your analysis makes 10 cents worth of difference; it doesn't. If only you had an algorithm .... click the link Dennis and make some clients happy for once.
www.traderzoo.mobi
So buy the terrorist dip.