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Hot Off The Press, Here Is Gartman's Nikkei "Target" In "Violently Plunging Yen" Terms
You asked for it, and here it is: Dennis Gartman's take on the Great Nikkei "price target"
THE YEN HAS VIOLENTLY PLUNGED… VERY VIOLENTLY... and the Nikkei has soared, and they should given the “double barrel” announcements from the Bank of Japan and from the Japanese Government Pension Investment Fund with the former pledging to expand its balance sheet materially and with the latter finally give fuller guidance as to the expansion of investment in equities it shall allow for the nation’s pension funds.
... The Bank notes the better economic environs but it is far more concerned about the prospects of deflation and/or of dis-inflation and has moved aggressively to countermand those forces. Caution has been thrown to the winds in Japan and we shall applaud the Bank for taking this action.
It is not our duty to tell the monetary authorities what they should be doing for that is not our portfolio. Rather, our portfolio here is to be a mercantilist warrior on the battle field of investments, joining the fight on the side of the “team” that is winning and whose “weaponry” is both the best, the largest and the most prone to being used. Our portfolio is to be agnostic; to watch for changes and to act accordingly to those changes. Hence if the monetary authorities intend to act expansively, it is folly on our part to take the other side of their trade for their “margin accounts” are far, far larger than is ours. If the Bank of Japan is going to expand its reserves and if the guardians of the pension funds there are doing to toss caution to the wind then so too should we.
* * *
THE NIKKEI: BLAST OFF!: It shall be very, very hard to do, but the Nikkei is only now just breaking out to the upside and so we should buy it while selling the Yen at the same time. The “hard trade” is always the best trade and it is going to be very hard to buy this market but we have to with 24-25 thousand as a target.
Of course, Gartman had a typo: he meant the "herd trade."
And speaking of Gartman, here is a quick stroll down memory lane courtesy of @TMFHousel
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My Halloween Costume is Dennis Gartman.
Children will need therapy after seeing it.
Douchebag, Ponzi-Pumping, muppet humping scumbag...........GARTMAN
Fartman & Cramer super-bullish within same morning...Bellend Reversal ahead.
When he goes broke it will be a generational buy signsl
Whos worse, Gartman or ZH's gold/silver predictions????
Hey dumbfuck Diablo- ZH doesn't make predictions; it simply reports the news.
Friday Humor has arrived, I see.
how the fuck are all of those derivatives withstanding this vol?
Not a good idea...some disgruntled parent who subscribed to the Gartman Letter may stick a knife at you....
Well at least that assclown admits hes wrong....have you heard Cramer, Bernanke or Geithner admit that on live TV?
this man is not just drinking the kool-aid, he's chugging it.
.
Love that last section. wrong...wrong...wrong
what is new there
That would be the opposite of what I'd do. Sell yen and buy US bonds/blue chip stocks. Why bother with the Nikkei? If you just eaten on the FX rate.
It's for the children montage.
Twisted laughter. These BOJ fucker's will be standing on a firing line.
he claims to be trading off central bank press releases? omg lol
If the Bank of Japan is going to expand its reserves and if the guardians of the pension funds there are doing to toss caution to the wind then so too should we.
What a fucking douche. No wonder he's always 'mea cupla'ing. Good fucking strategy Dennis, just do what the pension funds are doing.
Great comment Al... Nothing espouses financial prudence and leadership like Dennis the "Penis" Gartman following the lead of Japan's pension fund. /sarc
That facepalm Al never seemed more appropriate.
well if it wasn't for douche bags like him none of us would know who not to believe...
I await China's response.
Yes, children, buying into paper stock markets during violent currency disruptions is exactly what to do with what remains of your retirement funds. Might as well park Grandma's and the church fund in there while you're at it.
<hangs head in shame at human stupidity>
I've told every widow and orphan I know to go leveraged long biotech.
JFC Fartman sounds like he's channeling the ghost of 'Edgar Allan Poe'.
Rather, our portfolio here is to be a mercantilist warrior on the battle field of investments, joining the fight on the side of the “team” that is winning and whose “weaponry” is both the best, the largest and the most prone to being used.
~ The voice of CNBS hath spoken~
Mercantalist warrior is cringe inducing
And his clients end up in the Poe house.
Gartman's parents: "We were WRONG!"
Did gold and silver do an ounce split or go metric or something?
If not, it seems Gartman has plenty of company amongst the PM crowd here and all the PM Promoters on the internet in terms of being wrong and a great fade.
Of course Gartman hasn't lost if he hasn't sold, or something like that. I'll bet he's in his truck right now searching for reverse gear.
It won't be long now.
(Speaking of Gartmans dick or Gold.)
So Nikkei < 10k in 6 months it is...
Oil still down... that call hasn't gone wrong... yet...
So, short the Nikkei. Long he Yen. Got it.
Hahaha His bad.
I'm with him on this. No more shorts left. They all got blown out.