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Is This Why Stocks Closed Not "Off The Lows"?
1. October 16: "Buyers beware, the bear market has begun":
The selloff in global markets is set to continue as a bear market takes hold "for a long period of time," according to widely followed investor Dennis Gartman, who warned investors not to go long on stocks.
"This is the start of a bear market," Gartman, the founder of the closely watched Gartman Letter, told CNBC Europe's "Squawk Box" on Thursday. "You stay in cash and you stay in short term bonds and you don't move out, this is a very difficult period of time and I'm afraid - and
I don't like to think about it – but this might be the very beginnings of a bear market that could last some period of time," he warned.
2. October 21: "Failure here suggest that a fully-fledged bear market has begun"(sic)
As noted in the chart of the S&P at the upper left of p.1 this morning we were swiftly approaching the bottom of “The Box” that marks the 50-62% retracement of the recent sharp decline from the interim highs forged earlier this month. Given the manner in which stock index futures are trading rather briskly lower this morning as we write, it does not appear that we shall see the S&P futures trade into “The Box,” and that makes us all the more suspicious of share prices generally, for a market than cannot even retrace 50-62% of its previous weakness is a market that is weaker, internally, than it might at first appear. Worse, failure here suggest that a fully-fledged bear market has begun, for this would be a clear failure well below the highs of the last interim rally, with the lows of the last interim break having already been taken out to the downside.
3. October 22: Bear market called off
... in retrospect, having gone effectively to the sidelines two weeks we should have embraced last week’s weakness enthusiastically; we should have considered ourselves fortunate to have decided stand down from our modestly bullish perspective and we should have “margined up” as everyone else was being forced to “margin down;” however, we are not that wise nor are we that lucky… nor shall we ever be. We play the “Great Game” as we have been taught and as we have learned, being reticent about following inordinate strength and/or inordinate weakness; holding as best we can to major trends and always remembering that in a bull market… and this does still remain a global bull market… there are but three positions one may have: Aggressively long of equities; “pleasantly” long of equities, and neutral of them.
And in chart format:
Finally, in virtual money world, being "market neutral" also means being long beta: "For those who care, for the year-to-date in our retirement funds we are up 8.4%, having gained 0.6% yesterday, even as we were… and still are… effectively market neutral."
Win win for everyone, but most of all: comedy.
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Gartman maybe full of hot air.. but jokes on the viewers. he takens down 300k+ a month in subscriptions to his letter. probably not as much as he uses too.. not as usefuly anymore.. but ya know... ill take few mill a year to write a few words a day.... and speak on TV>
http://www.hedge.bz
You fool me once..shame on you. You fool me every single fucking time...I am Dennis Gartman!
Dennis, I'm here to help a brother out.....just be a bear and a bull at the same time(and all the time) and then you are always right.
I wouldn't even know what Gartman says if it wasn't posted here
I got ny own problems
Attention: I am launching a bag making company for storage of overvalued stocks, Gartman is backing the IPO.
We are long 4 units vanilla and short 4 units chocolate. We are neutral on strawberry.
^^
Me meither. I'll just repeat, it's a bear market; so you sell rallies. I didn't sell the rally to 1941; that's the way it goes. We'll wait and see if the "stupid" money biids the price up to where the sellers want to seel again. meanwhle, feeder cattle continue down and will for months and the GBP is a foregone conclusion; there's a lot of markets out there, not just one.
"just be a bear and a bull at the same time(and all the time) and then you are always right"
That would be a 'bear-a-bull" or DG's case "unbearable." Sorry, but couldn't resist
dennis gartmen is WRONG 100% of the time, NO JOKE, I have never seen him right ever!!! Its like they pay him to BE WRONG!
Better off following these, guys => http://bit.ly/1fMcakI they are INSANELY accurate and called at the rallies this year, and think this rally we are seeing goes into XMAS> INTERSTING!!
we were up 4% so profit taking had to be had. but for how long, its not doubt and XMAS rally could be here.
Also, I think traders, think that LONE WOLF terrorist attacks, are the new norm, not TWIN TOWER EVENTS. That is spooking investors. I think.
this is most likely a BULLISH flag that will form over the coming days before more upwards skidding will come. They have a few days here to TRAP MORE BEARS IN, and It will work.
Someone who is wrong 100% of the time is as valuable as someone who is right 100% of the time if you trade :)
The point is that Gartman has the most valuable newsletter in the history of finance.
Truer words have never been spoken.
I'd rather fade Gartman
I'd rather fade Cramer
Tyler, right on. I went net short yesterday at S&P 500 1941. Was still a little concerned about my timing until Gartman spoke. Now I can relax.
'Valuable', or highest priced? Surely GS muppets get soaked for more.
Valuable in that it gives you solid, reliable opions and ideas that you can do the opposite of and make money.
christmas,, there's even a bubble in the value of pure bullshit.
Gartman or Cartman? I can't tell the difference..
Valuable if you short his advice at every conceivable turn in the market. Gartman should start his own ETF and I vote for the symbol "SUX"....
He's even better than Stolper. I don't know that he's ever, in his own special way, missed a call.
Never missed a call. Just ask him.
Gartman looks like someone shit in his oatmeal.
And Krugman looks like a child molester. They all have some weird "look" like some inner demon is trying to get out through their facial expressions.
Dennis Gartman : anagrams
Satan Grind Men
Danger Man Nits
Dragnets Man In
Named Rants Gin
Damning Rat Ens
Trading Mans En
Grand Mean Snit
I bought and tried his news letter. About 400 a month at the time I tried it. After a few months I got nothing of value to trade and make money on.
Nothing. Enough said.
I would rather do honest work for much less money.
That's unamerican...Are you a commie?
Gartman is part of the cancer that has created ignorance of the masses. However, I do agree that the joke is on the viewers. If some of them picked up a book and educated themselves, he wouldn't ever make that kind of money. I still am astonished at the thought of someone investing in an idea or thesis based on what they heard on tv or a subscription service. Do some homework sheeple. You may not lose your life savings twice in your lifetime.
it's only $29.95/month, which is probably less than one meal out with your spouse. You can cancel anytime you want...
#Reuters
For free
Your PRIVATE Reuters Newsticker:
http://tersee.com/#!q=reuters&t=text
"$300K+ a month"... Yeah, that's why he runs to the bank to cash those $425 appearance checks from CNBC, but thanks for playing, Mrs Gartman.....
GARTMAN!!!!!!!!!!!
Cheezus.
The bulls won't believe it until the dow has a 500 point drop that can't be recovered before the close.
Janet will make sure that doesn't happen on her watch. The printing presses will be running full speed and fed analysts will be buying hand over fist.
"Aggressively long of equities; “pleasantly” long of equities, and neutral of them."-Fartman
Or we could be completely out of the Ponzi that is the markets, deal in cash and barter only, grow our own food, produce our own power and fuck the commerce clause every chance we can and starve the beast. I'll take option D.
For fucks sakes, this clown Gartman changes his market strategy far more frequently than CNBC hostesses change their panties.
.... CNBC hostesses change their panties....
are you including Steve Liesman?
Tell me more about their panties.
CNBC hostesses don't wear panties. (Except for Liesman) How do you think Maria "Why-is-gold-going-up-when-jewlery-sales-are-going-down" Bartiromo GOT that job? She does wear kneepads though...
http://www.alchemyfinancials.blogspot.com/2014/10/round-2.html
dude really needs to shave
instead of ice bucket challenge ... needs a straight edge razor challenge ...
i volunteer
Gartman lives in an upside down world! Maybe hes a bat?
He should just delay his emails by a day or so. Problem solved.
Oh Gartman, you sad little pumpkin you. On the one hand I believe he is ultimatly right about the bear market in stocks begining. But god his TIMING! Don't worry, round 2 of Scare the living shit out of everyone less than 10 weeks before Christmas seems like it will be starting again soon. IRA's and 401k's in a death spiral should do wonders for that 4th Q GDP boost we depend on so much... http://www.alchemyfinancials.blogspot.com/2014/10/round-2.html
Anagrams for Dennis Gartman: DE-MANNING RATS (Rat castrator?) MANDARIN'S GENT (Chinese spy?)
Have you ever considered the possibility that you have WAY too much time on your hands?
AT&T Inc. lowered its revenue outlook for the year, pointing to fewer-than-expected customers signing up for its no-contract Next plans that require consumers to pay full price for their smartphones.
The telecom giant T, -1.57% now expects revenue to increase 3% to 4% this year, versus its previous call for a 5% increase.
http://www.marketwatch.com/story/att-lowers-revenue-outlook-2014-10-22-1...
I wonder how much money could have been made over the last 2 months just trading the exact opposite of what he said.
And I kind of feel stupid for not having done it.
UnFUCKINGbelievable
For that matter, how much longer do we have to wait for a 3x inverse Gartman ETF? http://www.alchemyfinancials.blogspot.com/2014/10/round-2.html
Gart who ?
He must spend at least 5 minutes a day to figure out his position. Obviously a very emotional trader.
i like the technique gartman uses to read the market. he sits in his prius, farts, and wafts it into his nostrils with both hands. if he smells digested cake he says the market will go down. if he smells pot roast he says the markets will go up.
priceless
Edit: I think you'll find it was pot, he's definately smoking something.
The only problem with this is he's right. It is the start of a bear market. And what happens in bear markets? Aggressive short covering ralleys.
Hallelujah! I'm on the "Gartman Hubris Karma Train"! If there were ever an aggressive short signal this is it!
Dennis how is the winter wheat crop progressing in the heartland? other than that, Fuck off! i'd rather spend $400/month on booze and coke
Well, yeah...
I don't know how anyone can listen to, let alone read Gartman. He sounds like one of those bumbling thespians from a SNL skit... He rattles on like a loose bookend.
He missed his calling a member of the clergy... The way he talks in 3rd person as if he's got this massive congregation of followers, is laughable.
Gartman Newsletter~ The most valuable newsletter in finance<> In nominal terms.
People give this man money? Really?
300 grand a month, for double-talk and a newsletter?
This dude must be quite the bullshit artist.
His subscriber list would be a treasure trove of easy marks, a grifter's dream come true.
Today's decline in the Dow began right where this analysis predicted it would...
http://www.globaldeflationnews.com/dow-jones-industrial-averageelliott-w...
CNBC is not for human consumption. I've been studying humans and am currently studying detective fiction, French Literature and early Shakespeare. Q99X2 still does not have it figured out yet but CNBC from all indications has no association with the human mind.
Ahh fuck. This guy again.
This is a bear market. AAPL would be $120 by now if things were the same after earnings.
As my Dad would say........."full a shit like a tamate-ah...."
"...according to widely followed investor Dennis Gartman..." What a fucking hoot. This scumjerk is the best contrarian pet rock at CNBC in years. If he says black, then bet the farm on red. Followed by whom? Lemmings? Pied Piper's kiddies? Give me a fucking break. He reads the news every morning and turns it into an investment letter. Too bad all the good guys CNBC used to have on air are no longer invited. Anyone else notice that?
Lower highs, lower lows, nice retracement 50 to 61.8% (nearly all markets), gap filled except on the CAC40.
Very weak bullish divergences if any on this retracement.
Its looking like we will take out the low and go way pass it, and everyone will change their mind again.
If your got brains, cash! There's going to be bargains on the spike low..
Dennis should get pleasantly long retirement!
Denny "The Masterbater"... One man, perpetual Bull/Bear debate. If you are whipping your skippy on a long enough timeline you may just get that happy ending.
Try a long Headstand Denny.