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Stocks Slide As Gartman Goes "Long Of One Unit Of The US Equity Market:"
It just never, ever fails. From this morning's Gartman letter:
SHARE PRICES AROUND THE WORLD ARE STRONGER and the news from Scotland should serve to keep the global bull market intact for markets do indeed disdain confusion and the confusion over the UK’s future has been relieved. All things being otherwise equal, this is supportive of shares generally.
Stare then... do not merely look; stare!... at the chart of the S&P at the bottom left of p.1 and try if you will to see anything bearish in that chart.
The “channel” defining the trend is stunningly well defined; the lows have held time after time after time, and hoping to be as clinically honest as we can be, presently we are but in the middle of this upward sloping channel. Certainly it may end at any time and many have argued that it has time after time in the past, but the trend obtains; the bears are proven wrong and every time we move from bullish to neutral we pay a price for having done so. There is a lesson to be learned here; would that we had learned it.
Long of One Unit of the US equity market:
To make if official, we were buyers of “aluminium” yesterday, to align our recommendations with those equity positions we have in our retirement fund. We do not name individual equities in TGL, but everyone knows which company here in America we mean. As long as the lows made earlier this week hold we’ll be a buyer and try our best to remain long, with out-of-the-money calls sold against it as a yield enhancement.
In short: best $29.95 one could ever spend.
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He's a unit alright.
Did he also long one unit of silver yesterday? market action today dictates that he did.
Black Monday.
Suck my unit
You know what you do with a guy who's constantly flip-flopping their plan every week? You walk away from them.
It's one thing to trade in and out based on some plan or a general theme. But when the plan itself is what changes every 10 minutes, you don't want to be that lost. Ever.
Huh? What did you say? I was to busy watching this guy on CNBC, he's soooooo smart. I'm going to give all my money to him. Imean he's on teevee so he must know what he's talking about.
I would get a second opinion from Jim Cramer before you do that.
LOL.
If he windsurfed, he'd be qualified to be Secretary of State.
Long of One Unit of the US equity market
That sounds like typing while stroking.
and this is the reason for increasing left hand strength among today's youth
I was thinking about the other kind of stroke, but yeah, could be that kind, too.
Yahoo needs to be shorted; right now. it's ripe.
Roger that. I think the basic idea is to buy what's underpriced and sell what's overpriced; but maybe I have that confused.
If things are so great and Barftman so smart how come the one stock he picks has no P.E.?
AA has been a dog my entire adult life. Demand for Alum is going to pick up exactly why?
"Garts" is such a tool. I'm long of him in douche bag terms.
Stocks down, did some of those mealy mouth, little Wall Street cocksuckers not appreciate the gloating, in your face, fuck you, the Chinese trillionaires just gave them on CNBC!!!
LMFAO,
They haven't seen shit yet, when it comes to humble fucking pie, that crowd has in store for those WS motherfuckers!!! And guess what, I'm applauding them all the way to mass groups of Wall Street bankers and stock holders, jumping off building, I hope they enslave and impoverish the whole lot of them, and then if they make the mistake of crawling out into the Main Street of America, they'll be greeted with AR15 salutes, but otherwise buy away Boyz, bankrupt the whole fucking place!!
Nurse! One unit of douche bag liquid - stat!
...let the bond buying begin...
Richard Dennis Trading Concept on full Display Here.
Even a broken clock is right at least twice a day.
The funny thing is Gartman cant even beat a broken clock.
What the hell is a Unit?
Gartman's clock is broken because he dropped it on his foot then he had to buy it.
How do you know it is right twice per day if it is digital with no working display?
The broken clock with no display is how Gartman learned that is it always good to be seen.
LOL!!!
Start by firing your technician.
Then, hire one who knows how to properly draw a trendline.
Those channel lines are for "Braille Trading" lol
I pooped today~~~
Okay, Knuks owns this one, but I couldn't resist.
me too. then i wiped my baba.
p/e = n/a = lol
Apocalypse weekend...fill up the tank and
'don't get bit out there....'
Come on, it's all good. He just likes bending over and taking digits.
Our favorite whuppin boy.
Is there an inverse gartman etf?
Cartman bought 1 share of Alcoa....gee what a hi roller!
The chart goes up from left to right, and in conclusion, fucking buy.
Cartman is right on queue. This guy has perfect timing to do the opposite.
Haha this fucking guy.
The market is as honest and sound as the Scotland vote
Trust US, Trust the Market. At Least Until We Steal Everything and Kill All of You - Much Love from The Greedy Parasitic Ruling Elite
https://www.youtube.com/watch?v=et9kE4YHwdw
http://www.zerohedge.com/news/2014-09-18/live-feed-scotland-results-star...
alibaba and the 40 theives have run off with your IPO cash
the highs are in... sell !!!
Sounds like very good advice to me.
"In short: best $29.95 one could ever spend."
Try getting your gonads waxed and claiming it as a tax supository under article 'b' in the feltching rule for anal retention of goods withheld!
Sorry, its 4am here on a friday and I are intoxicated - night all!
I have perhaps a stupid question here, but can someone explain to my why SPY says it is only down (0.15%) 31 cents to 200.57 when the previous close was 201.82? I guess I'm getting conflicting previous day close results as OptionsXpress says it was 201.82 while Yahoo says it was 200.88. Different places are quoting different values for SPY and it confused me to log in to see SPY simultaneously trading down from yesterday but showing the stock opened in the green:
http://seekingalpha.com/symbol/SPY
http://finance.yahoo.com/q?s=SPY
http://www.marketwatch.com/investing/fund/spy
Seekingalpha and marketwatch have it right. Yahoo finance is wrong. Yahoo puts up some oddball numbers sometimes. Not sure why, but I've scratched my head over some of their charts, too.
Thank you
Thank you
Stocks fall on Gartman rec but rally on the bearish ZH post. "Works every time."
I would agree if channels and trends where valid, but they are NOT.
Rainbows and Unicorns.
I would post a chart, but that would take all the fun out of it.
2008 declines hardly a downturn compared to what this tape has built up energy for. Makes the dot com bubble look small.
should be really fun to trade.
Yep. Riding it down is gonna be fuuun !!
When is the big day?
Alcoa was a much better buy at $8 a year ago than ~$17 where Dennis went long. Not to mention what looks like a double top. I would say I'm surprised that he still has investors or subscribers (besides those looking to fade his every call), but human stupidity stopped surprising me long ago.
Dear Client: The firm of Gartman & Stolper is happy to announce we have new and updated easy deposit forms for you to use in your margin calls. Soon, we will have the ability to just take it out of your checking account when necessary without you having to lift a finger. As you know, we specialize in lowering your capital gains tax bill with our exclusive "Loss Trading Plan" [available to qualified clients only] and look forward to your participation.
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Awesome post, Vegas! Gave me a laugh. I must say, though, that if this ever became a real "thing"... people would still sign up for it! :\
What a massive cheese ball. He needs his tits ripped off.
Who talks like that, he truly is the Shakespeare of the markets, OH THE IRONY:
"This life, which had been the tomb of his virtue and of his honour, is but a walking shadow; a poor player, that struts and frets his hour upon the stage, and then is heard no more: it is a tale told by an idiot, full of sound and fury, signifying nothing."
"The fool doth think he is wise, but the wise man knows himself to be a fool"
He's long one unit in lunar terms.