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Bulls Beware: Dennis Gartman Just Flip-Flopped To Bullish... Again
Two days ago, just as the market was about to soar, we wrote "Shorts Beware: Dennis Gartman Just Flip-Flopped To Bearish" in which we wrote "just as it seemed safe to pile into shorts today... here comes Gartman with a note that makes a dead cat bounce virtually assured."
Quoting Gartman:
"The S&P: This has the ominous look of what some of the Old Guard amongst the market technicians used to call “Three Peaks and a Domed House” pattern, which always gave way to substantive weakness. All we know is that Friday’s action was horrific and that the volume swells on the downside these days, and wanes on rallies!"
Our conclusion: "the biggest short squeeze of 2015 may be imminent."
What happened next was, drumroll, the biggest two day surge so far in 2015.
Well, just as we warned the bears to close out short positions two days ago, now may be a time for the bulls to panic. The reason: Gartman just flopped again:
... we would, under most circumstances, “see” this unanimous direction of all ten markets to the upside to be a harbinger of a bearish move… the harbinger of the end of the current bull market; but… and this is perhaps the very biggest of “buts”…this time may be different… maybe. This time the markets seem to want to levitate skyward and thus far any attempts to “call” the top and positions ourselves in anticipation of a downward price correction have proven futile and badly wrong.
You've been warned.
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God bless you, Dennis G !
Don't need a weatherman to know which way the wind blows...
Just a Gartman.
Blue horseshoe says buy SPXU at $38 and hold until Gartmann turns Bearish again.
Nova
Gartman is a complete moron.
Think a dumber Cramer.
Well, he is smart enough to label his efforts as futile, FWIW.
ONE UP DAY (and another barely up day) and this guy changes his entire investment outlook?
Kids, you don't ever want to be as lost as this guy. This is just pathetic.
Just a guess but are the Pat's his favorite team?
We need to setup facing "Gartman Mirrors" in Cramer's office and then let them both talk and face different ways, alternating.
Invite Gartman into Cramer's reflection office. Put that on the air !
We will get infinite Gartman reflections, and then the media can choose which reflection to comment on.
It will be fun seeing Gartman more than once in a day, and it will be very tricky to select the correct view of Gartman among the reflections.
It would be a hoot !
If they put Gartman and Cramer on together there might be a meltdown.
That would cause a rupture in the time-space continuum. The fabric of reality would unravel like a badly-crocheted dog sweater.
Shh, don't discourage him- there hasn't been a better trade in the last 5 years than going opposite of Gartman- the dude has been MONEY.
@ Haus: I think Cramer's job is to push something on the innocent public that an affiliate wants to unload. Nothing solid in that regard; it's just my opinion in light of the remarkable timing of a momentous top in BQI (Canadian oilsands play, now dead) practically to the day that he appeared on the air sitting in a bucket of sand with dollar bills sticking out of it, telling everybody to fill their boots! Sundry other instances have been discussed here in the past. Gartman is probably something similar, not malevolent necessarily: a useful, compromised idiot. JMO. There's a reason why the media doesn't consult more credible voices: it's not in their interest.
Doofus and doofuser.
You got that right NoVa. I was all fired up to buy SPXU earlier this week when Fartman made his "bearish" call, I promptly cancelled my order then.
I'll tell you, the Fartman is freaking $$$$ baby ! Treat him just like GS, do the exact opposite of whatever he says,
looks like SPXU settled up 1% at $38.35. Nice two hour trade (if actually executed it - already long SPXU).
NoVa
Even better, TVIX or UVXY.
Here's how you fix this.
1. Everyone knows we are the cleanest dirty shirt.
2. On that solid footing, we should print more, export more valuable dollars.
3. Lower interest rates to become more competitve with the world.
4. Increase EBT funds to get comsuer spending going.
5. Show the world how awesome we are by issuing even more debt for them to buy.
6. And finally Increase spening by at least 10% per year.
7. Bask in our awesomeness and sit back and watch the good times roll.
That should fix everything...! What could possibly go wrong, right?
We need to send the world a meesage of strength and that we are ready to lead the way. Making sure they know our commitment to a strong dollar is the best way, Our dollar right now is too strong, (proves that they can't get enough of our almighty dollar), so we can take this as ultimate trust from our buyers of debt, so they will glady accept our policy of strenghting our dollar by priting more.
Is MDB on vacation?
Hitler, U R a genius!!
Hitler, U R a genius!!
Thanks. Gotta go short, preferably naked.
Somehow this seems relevant
http://www.breakingnews.com/item/2015/02/04/photo-seattle-fire-departmen...
More like...Dennis Fartman
HA HA HA HA HA HA HA HA HA HA HA HA...
<sniff>....
what would we do without Gartman?
Would someone just give this guy a bell to ring. It is always nice to know when the elevator is going up or down.
yes ZH, please keep us up to date on Gartman's latest missives...one of your best services.
This guy needs his own jingle.
Oooooohhhhhhhhh...
If you by the fucking dip
And you love to follow trends
Then the answer I have here
In the palm of my own hands
Because my name is Denny G
And I haven't got a clue
But if you listen well to me
I will tell you what to do
I say it's going up
When it's really going down
I "buy in x, y, z terms"
To confuse the muppet crowd
So if you buy the fucking dip!
And LOVE to follow trends!
Then pay me your hard earned money
You deserve the best my friends!
He must have the unlimited fund, OPM, Other Peoples Money..
This fuggin guy is wrong more than a broken clock.
THIS poor fuckin guy....BTW how would it even be possible to flip around an entire huge fund like Cartman supposedly has like this in just a few hours? Morning his fund is 'bearish', a few hours later he's flipped to 'bullish' again?
Gart is as predictble as a broken clock...except the clock is right twice a day.
When I'm wrong for an extended period of time, it's pretty much a certainty I'll be right sometime in the very near future!
I hope it's tomorrow because the old lady asked if she could take me to the cleaners.
For my shorts?
Now we just need GS to call the top as well. Oh wait wouldnt that be a double negative, making a positive. Or wait, maybe double your pleasure double your fun? Who the fuck knows. This shits just stupid.
I think you could probably find Cartmans infamous '3 peaks and a domed house' (doomed?) pattern in about any chart you look at.
When will Erin Ade give up on this clown?
Maybe he's Doing a Goldman.
"He says bearish" (but buys) then "says buy!" (Only to sell!)
Wile E Coyote....you ARE indeed a SUPER GENIUS!
Beautiful tertiary confirmation. I'm leaning towards 2065ish and then frankly a very sharp drop below the 1820ish Bullfucktard level. maybe ole Dennis calls himself a genius for one or two more trading sessions from here.
Well, just this once we'll let him be right so as not to be completely irrelevant. ;-)
Articles like this make me laugh every time. Gartman and Cramer are unbelievable indicators.
He does not get paid by anyone, does he?
There should be a ZH fund...
CORK the arsewhole already !
When I was a young apprentice, I got sent for all sorts at the warehouse at the tender age of 16, I was sent for 'Long Stands', 'Tartan Paint', 'Chocolate Fire Guards', 'Uphill Gardening Equipment', and that pearler 'Sky Hooks'.
Not fucking once did I let on my old man told me all about the jokers before I started the 'Apprenticeship'.
Hence therefore, not once did those that paid me a half decent rate for hours on end, and laughing their tits off at someone elses expense ever twig on that I was in the bait room smoking a tab and reading the paper. On their coin mind.
Lesson from this, not everyone was born on a banana boat and acted like a monkey.
;-)
It feels so fucking different!
Pass the bath salts.
Don't eat me bro!
Denis the Menace
PEOPLE !!!! STOP THE TEASING !!!!!
Don't you know a real oracle when you see him?????
Of course it is inverse. He is giving us the true direction of the market (in inverse).
Don't screw with a good thing! Get out there and make money!!! Buy some puts!!!!
Thanks Zero Hedge for the prompt notification! Best trading service out there!!!
What does this guy eat for breakfast that causes him to change his mind aout market direction every day?
My guess is a bottle of scocth.
The BlowHorn's Pavolian Dog.
he shud just come out and say he's BUL-EAR-ish
save himself the time of going back and forth. just come out and say you think the market is going both up and down. be a pioneer. make up a new term. would make more sense because at this rate i can't keep up with what his last position was. guy changes position more than the H-iest HFT.
I would luv to be Dennis' broker... generate a lot of commisisons and my market making desk would lve me also.
Ask dennie about gold.... Ask dennie about gold.
The market is even moar retardeder than Gartman so he might just be right this one time...
Is Gartman running for POTUS? He flips and flops more than a beached mackeral
He's the only guy I ever heard say, "I am short OF this market" - - or, "Long of that market." That was my clue to deem him a dud.
He's the only guy I ever heard say, "I am short OF this market" - - or, "Long of that market." That was my clue to deem him a dud.
Gartman is almost as bad as the old equity top ticker , Bob Dahl...
When the cobra has its head cut off, the body thrashes around aimlessly until it dies...this market for we old timers is displaying the "Beheaded Cobra Formation"...
When you chop the head off a copperhead, it can still bite you hours later, best to bury the head. There is something about going after the head of the snake, just escapes me now??!!
Seriously, it's not Gartman, but Cartman. This guy bears a unique resemblance to South Park's Eric Cartman.
http://southpark.cc.com/full-episodes/s01e01-cartman-gets-an-anal-probe
Gartman....the turd that won't flush...
JESUS CHRIST !!! DOES THIS GUY REALLY HAVE A JOB???
MY GUESS IS NOT, AT LEAST NOT OUTSIDE BEING PAID FOR TALKING SH.TE ON TV...
Wow, this prints just minutes before the ECB pulled the rug
The Swiss National Bank unpegged itself from the Euro, Greece elected a government that is anti-EuroZone, Russia’s currency is collapsing, China’s housing market is deflating faster than the U.S market did in 2006, Canada’s oil industry is collapsing thanks to an endless and cheap supply of Saudi Arabian oil and Germany is just beginning to realize it will never see any of the money it doled out to other EU countries thanks to Mario Draghi and the ECB.
None of this works to the advantage of the stock markets around the world, yet pundits and analysts alike continue to tout the strength of an improving U.S. economy and the wonderful job Janet Yellen and the Federal Reserve are doing to keep the financial system of the U.S. and much of the rest of the world afloat. While there is a remote (very, very remote) chance that the stock market can eek out one more new high, it appears almost impossible.
http://www.globaldeflationnews.com/dow-jones-industrial-averageelliott-w...
He's like the market itself, wild swings, or is that the death throes? Hard to tell anymore, everything is upside down?