This page has been archived and commenting is disabled.
Is This Why Stocks Are Rebounding?
After three days of perfectly fading every single Dennis Gartman move, the market was just waiting for the last "positioning" of G-man's virtual 401(k) portfolio. And moments ago, it got just that with the bolded sentence below possibly explaining the early euphoria in the "market."
We reduced our derivatives position even further, selling just-barely-out-of-the-money calls against our newly established aluminium position. Hence one half hour into the market we were marginally net long… and then panic hit!
We will likely take no further action in our own account today, for we are now, as noted above, marginally net short… and we do indeed mean marginally…
So will it be 4 out of 4? Remember: Fridays are strategic "must close green" days for the Fed - one must have a "wealth effect" tail wind from the S&P to spend, spend, spend during the days off and boost the GDP.
As of this writing, the e-mini is up 20 points from overnight lows.
»
- 6694 reads
- Printer-friendly version
- Send to friend
- advertisements -
This fucking asshole won't die, UNREAL.
Gartman: "Time to feed the algos."
Gartman also said Ebola is real threat that investors should be fearful about....guess i can cancel my order for my hazmat suit that i ordered YESTERDAY...Fuckin Muthafuckin Gartbag
REBOUNDING !!!??
NOTT!
Maybe this afternoon cause this is a fifth wave down this morning
Let the selling continue... Into Infinity and Beyond!!!!
"Mr. Gartman, Is there a God?"
"Mr Gartman, What is the meaning of life?"
After 1pm and the DJIA is staggering around slightly green but it looks like it gonna stumble....
But while we wait for that it would be great to see a mashup of Dennis Gartman and Bart Simpson set it to music and everybody can do the GARTMAN!
BTFD..same as it ever was.
LOL! - ZH is just as much a contrary indicator as Gartman is.
Well the Bulls have to fleece somebody!
Bring in your shorts! Bring in your shorts!
Thats right, put your right foot forward and left will follow, place your bets on the sea of red. Short it and we will make sure, your shorts are the only think you would have left!
Maybe. But even so it is sad that the mainstream media is so overtly biased and agenda-based that information gleaned through articles posted by anonymous contributers are more insightful.
They don't wanna piss off their advertisers, especially CNBC that survives on muppets fornication.
Do they really need to interview intraday traders? To listen to that message he went from long to short in two paragraphs. How can you glean any useful information from this?
At least you know their P/L is imploding!
fartman
Attention Starved Tool has compulsion to loudly, publicly allege what his "fund"is doing every day.
Like an attention whore on the beach doing somersaults.
Dennis Fartman.
Gartman is such a rube, in USD terms that is...
it's gonna shit the bed this afternoon. Dow minus 250-400 and then the hammer drops.
You think so?.. today is Friday.
Essentially a dataless Friday with 4 FED, 3 ECB and a couple of BOE bobbleheads jawboning all day. I fully expect a rip your shorts off, for no good reason, 200 pts rally. It's Friday.
I hope your right because if it does, then its real this time, and we need the Deer.... I dont think it will it will close modestly green. Russell 2k is getting good support out of the box today
If I grow a beard and start a newsletter today, I bet I can be on cnbc at least once before the collapse.
ZH is bear trap.
Fed is making it look like Bull / Bear fight, phoney.
Good and high 1963 ish EOD.
The more Fed makes it look real the more it still memorex.
Gartman!
Green, we must be GREEN for a Friday!
Faith must be maintained!
Gravity beginning to assert itself...
"Dow off the highs..."
Bloomberg asked some banksta today how Yellen is doing. His response was that she's doing exceptionally. Of course she is. If someone was handing me free money I'd think they were exceptional.
In managed markets one should probably ask those who are managing price what their goals are ... and why. Although if one can probably look at their actions over a long enough period of time and ignore their lying words, then one can probably figure out what and why.
I do not manage price. Do you?
Aluminum position? Dont tell me he is betting on it going up further? Did he miss the wholesale inventory report? Or is he banking on uncle sam continuing the auto bubble? Because that baby is going to pop in 6 months or less as defaults continue to rise.
ZH needs a photoshopped picture of gartman with a clown nose and a clown hat.
WB7 will come through. Be patient.
Oops, you beat me to it.
" 'Market' makers" must dump the inventory they collected during yesterdays selloff before the tank resumes.
Show me your ledger on how you paid off the derivatives position.
I think you're full of shit!
No way he (Dennis Gartman) or anyone else is making money trading this market. Not a chance in hell. This market is slicing traders with giant Ginsu knives. The put/call spreads are crazy... the volitility is outta control. The only way you're making money here is adding to your position on dips...whether you're bullish or bearish, and riding out the volitility wave. I can't stand watching these supposed "traders" make money but have they shown their P&L's? Uhhh..no. When the move is made, they say "Oh yeah...I bought at (fill in the blank)" If you're bullish, buy on the dips at each support point...that's S&P 1930 (150dma) and 1900 (200dma). If you're bearish, Sell short when we reach previous levels that wouldn't hold support. If you're confused...stay away. Equities are catching back down to credit and bond yields. This see-saw will continue all month. Stick to a plan. Buy on dips or sell short in rallys. Everything else is a losing proposition.
I'm bullish until we break long term 200 day support at S&P 1900. I will sell into rallys once we reach S&P 1985 and above since that is my target profit zone in the near term. Watch credit and bonds. They will tell us more than a trader will.
The only money jackass Gartman is making is his $40 CNBC guest appearance fees.
Great post, HFT is going to burn you a new asshole. I use 52 week average. 200 week is a sellout. Highly respect your post
Don't use my concerns in trading. Something smells bad from my vantage point.
Widow maker whipsaw market always precedes pure widow maker market - always, and NASDAQ always gives tell to and leads the bleed...always.
Gartman must be getting dizzy from all his flip-flopping - watch out Dennis, at your age, bouncing around like this you're likely to get whiplash.
He needs floppy shoes and a red button nose.
There's not enough smoke and mirrors to keep the confidence game alive against the destructive economic force of ebola. They rebounded yesterday for a while too, before the fall. A major crash is lurking behind ebola.
Looks like 'they' just wanted to wait for a bunch of shorts to panic and now it will continue the slow bleed south....
Starks rebounded? I'm not really seeing it, wasn't S&P at 2011 just a couple weeks ago? Long way yet to rebound.
The wild swings are bound to trigger margin calls. This should get interesting.
Traders like big swings.
Stocks back into the red. That was quick. Did Putin fart?
pump and dump again....
just one time and we'll...
set 'em up, my friend...
...then you can let....
some other fool sit down...
Indexes back to red, time for Gartman to make another appearance saying he's all-in short now. Fuckin guy flip flops more than a first time day trader.
16.4 is the number of the Devil!
Why would a guy try to predict the day to day movements of the market? Ask a physicist if that's a good idea and he'll laugh in your face. The smaller and narrower the scope of something is, the more likely it is to be wrong.
Example. Tomorrow might be warmer than today. Or it could be colder than today. If I don't know anything about weather forecasting, and I don't get the information from someone else, my chance of correctly guessing tomorrow's temperature is very poor. Guessing the trend is much easier when looking at a larger sample. Will November be colder than October in my region of the world? With at least 95% certainty, I can say yes. Will stocks be lower next month? Very likely. Will they be lower on Monday? Maybe, maybe not.
This is why day trading doesn't work for most people. People are betting money on noise, basically. The easiest way to imagine the stock market is to imagine a simple trend line, Y = X. It's a line that goes from the lower left to the upper right of a graph. Around that Y = X line, draw a sine wave. That's what a stock price looks like. Someone looking at short term trends would say "oh, the sine wave went up! that means the trend is up!" then tomorrow the sine wave goes slightly below the Y = X line. Then they say "oh, the sine wave went down! sell everything!" and the sine wave goes back above the Y = X line. Expecting the day to day trend to always be linear is absurd, and that's exactly what Gartman is doing. He's doing the exact opposite of "reversion to the mean" investing.
Yep its rebounding. Dow currently up 2 at 10:45 and Nasdaq down 56. I expect once capitulation sets in, the floor will fall out and Gartman will be nowhere to be found.
Why even Post Gartman -- he sucks in so many ways.. has no credibility ----
The important question is where can I get the Gartman Algo? Seems to be flawless.