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Bulls Beware: Dennis Gartman Just Flip-Flopped To Bullish... Again

Tyler Durden's picture




 

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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Wed, 02/04/2015 - 14:24 | 5743759 waterwitch
waterwitch's picture

God bless you, Dennis G !

Wed, 02/04/2015 - 14:28 | 5743773 Redneck Hippy
Redneck Hippy's picture

Don't need a weatherman to know which way the wind blows...

Just a Gartman.

Wed, 02/04/2015 - 14:28 | 5743782 NoVa
NoVa's picture

Blue horseshoe says buy SPXU at $38 and hold until Gartmann turns Bearish again.

 

Nova

 

Wed, 02/04/2015 - 14:30 | 5743792 Haus-Targaryen
Haus-Targaryen's picture

Gartman is a complete moron.  

Think a dumber Cramer.  

Wed, 02/04/2015 - 14:37 | 5743806 NotApplicable
NotApplicable's picture

Well, he is smart enough to label his efforts as futile, FWIW.

Wed, 02/04/2015 - 15:00 | 5743880 NoDebt
NoDebt's picture

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.

Wed, 02/04/2015 - 15:10 | 5743928 SoilMyselfRotten
SoilMyselfRotten's picture

Just a guess but are the Pat's his favorite team?

Wed, 02/04/2015 - 16:01 | 5744175 HardlyZero
HardlyZero's picture

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.

Wed, 02/04/2015 - 16:18 | 5744249 swmnguy
swmnguy's picture

That would cause a rupture in the time-space continuum.  The fabric of reality would unravel like a badly-crocheted dog sweater.

Wed, 02/04/2015 - 16:30 | 5744286 jcaz
jcaz's picture

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.

Wed, 02/04/2015 - 17:54 | 5744687 Lore
Lore's picture

@ 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.

Wed, 02/04/2015 - 14:37 | 5743807 Richard Chesler
Richard Chesler's picture

Doofus and doofuser.

 

Wed, 02/04/2015 - 14:41 | 5743821 DirkDiggler11
DirkDiggler11's picture

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,

Wed, 02/04/2015 - 17:03 | 5744468 NoVa
NoVa's picture

looks like SPXU settled up 1% at $38.35.  Nice two hour trade (if actually executed it - already long SPXU).

NoVa

 

Wed, 02/04/2015 - 15:27 | 5744011 beachdude
beachdude's picture

Even better, TVIX or UVXY.

Wed, 02/04/2015 - 14:37 | 5743812 Hitlery_4_Dictator
Hitlery_4_Dictator's picture

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.

Wed, 02/04/2015 - 14:42 | 5743820 City_Of_Champyinz
City_Of_Champyinz's picture

That should fix everything...!  What could possibly go wrong, right?

Wed, 02/04/2015 - 14:50 | 5743843 Hitlery_4_Dictator
Hitlery_4_Dictator's picture

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.

Wed, 02/04/2015 - 15:40 | 5744081 Temporalist
Temporalist's picture

Is MDB on vacation?

Wed, 02/04/2015 - 18:29 | 5744894 Redneck Hippy
Redneck Hippy's picture

Hitler,  U R a genius!!

Wed, 02/04/2015 - 18:28 | 5744895 Redneck Hippy
Redneck Hippy's picture

Hitler,  U R a genius!!

Wed, 02/04/2015 - 14:24 | 5743762 Hohum
Hohum's picture

Thanks.  Gotta go short, preferably naked.

Wed, 02/04/2015 - 14:29 | 5743783 thamnosma
Wed, 02/04/2015 - 14:29 | 5743788 BullyBearish
BullyBearish's picture

More like...Dennis Fartman

Wed, 02/04/2015 - 14:30 | 5743789 Automatic Choke
Automatic Choke's picture

HA HA HA HA HA HA HA HA HA HA HA HA...

<sniff>....

 

what would we do without Gartman?

Wed, 02/04/2015 - 14:32 | 5743793 LawsofPhysics
LawsofPhysics's picture

Would someone just give this guy a bell to ring.  It is always nice to know when the elevator is going up or down.

Wed, 02/04/2015 - 14:51 | 5743857 Frank N. Beans
Frank N. Beans's picture

yes ZH, please keep us up to date on Gartman's latest missives...one of your best services.

Wed, 02/04/2015 - 14:59 | 5743879 blabam
blabam's picture

This guy needs his own jingle.

Wed, 02/04/2015 - 15:46 | 5744102 Temporalist
Temporalist's picture

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!

 

 

Wed, 02/04/2015 - 14:30 | 5743794 ziggy59
ziggy59's picture

He must have the unlimited fund, OPM, Other Peoples Money..
This fuggin guy is wrong more than a broken clock.

Wed, 02/04/2015 - 14:34 | 5743801 SheepDog-One
SheepDog-One's picture

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?

Wed, 02/04/2015 - 14:38 | 5743814 northern vigor
northern vigor's picture

Gart is as predictble as a broken clock...except the clock is right twice a day.

Wed, 02/04/2015 - 15:35 | 5743803 Salsipuedes
Salsipuedes's picture

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?

Wed, 02/04/2015 - 14:35 | 5743804 bnbdnb
bnbdnb's picture

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.

Wed, 02/04/2015 - 14:38 | 5743810 SheepDog-One
SheepDog-One's picture

I think you could probably find Cartmans infamous '3 peaks and a domed house' (doomed?) pattern in about any chart you look at.

Wed, 02/04/2015 - 14:41 | 5743818 Rodders75
Rodders75's picture

When will Erin Ade give up on this clown?

Wed, 02/04/2015 - 15:12 | 5743929 disabledvet
disabledvet's picture

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!

Wed, 02/04/2015 - 14:44 | 5743832 ghostzapper
ghostzapper's picture

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.  

Wed, 02/04/2015 - 14:47 | 5743836 IronShield
IronShield's picture

Well, just this once we'll let him be right so as not to be completely irrelevant.  ;-)

Wed, 02/04/2015 - 14:53 | 5743864 Spungo
Spungo's picture

Articles like this make me laugh every time. Gartman and Cramer are unbelievable indicators. 

Wed, 02/04/2015 - 14:55 | 5743867 monopoly
monopoly's picture

He does not get paid by anyone, does he?

Wed, 02/04/2015 - 14:54 | 5743868 JBilyj
JBilyj's picture

There should be a ZH fund...

Wed, 02/04/2015 - 14:55 | 5743870 saveUSsavers
saveUSsavers's picture

CORK the arsewhole already !

Wed, 02/04/2015 - 14:56 | 5743871 Inthemix96
Inthemix96's picture

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.

;-)

Wed, 02/04/2015 - 14:58 | 5743881 Soul Glow
Soul Glow's picture

It feels so fucking different!

Pass the bath salts.

Wed, 02/04/2015 - 19:30 | 5745148 Unix
Unix's picture

Don't eat me bro!

Wed, 02/04/2015 - 15:01 | 5743885 Itchy and Scratchy
Itchy and Scratchy's picture

Denis the Menace

Wed, 02/04/2015 - 15:07 | 5743901 docinthehouse
docinthehouse's picture

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!!! 

Wed, 02/04/2015 - 15:06 | 5743903 Downtoolong
Downtoolong's picture

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.

 

Wed, 02/04/2015 - 15:11 | 5743921 Bay of Pigs
Bay of Pigs's picture

The BlowHorn's Pavolian Dog.

Wed, 02/04/2015 - 15:15 | 5743941 aliki
aliki's picture

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.

Wed, 02/04/2015 - 15:20 | 5743964 Clowns on Acid
Clowns on Acid's picture

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.

Wed, 02/04/2015 - 15:21 | 5743981 Archetype
Archetype's picture

The market is even moar retardeder than Gartman so he might just be right this one time...

Wed, 02/04/2015 - 16:08 | 5744211 Quirkel
Quirkel's picture

Is Gartman running for POTUS? He flips and flops more than a beached mackeral

 

Wed, 02/04/2015 - 16:11 | 5744216 Fed-up with bei...
Fed-up with being Sick and Tired's picture

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.   

Wed, 02/04/2015 - 16:11 | 5744217 Fed-up with bei...
Fed-up with being Sick and Tired's picture

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.   

Wed, 02/04/2015 - 16:19 | 5744250 Hot Shakedown
Hot Shakedown's picture

Gartman is almost as bad as the old equity top ticker , Bob Dahl...

Wed, 02/04/2015 - 16:19 | 5744252 FPearl602
FPearl602's picture

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"...

Wed, 02/04/2015 - 19:27 | 5745137 Unix
Unix's picture

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??!!

Wed, 02/04/2015 - 16:28 | 5744277 FreeNewEnergy
FreeNewEnergy's picture

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

Wed, 02/04/2015 - 16:29 | 5744291 wissen dass scheiBe
wissen dass scheiBe's picture

Gartman....the turd that won't flush...

Wed, 02/04/2015 - 17:07 | 5744496 lemarche
lemarche's picture

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...

Wed, 02/04/2015 - 17:23 | 5744604 kolya111
kolya111's picture

Wow, this prints just minutes before the ECB pulled the rug

Wed, 02/04/2015 - 18:07 | 5744809 fremannx
fremannx's picture

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...

Wed, 02/04/2015 - 19:25 | 5745130 Unix
Unix's picture

He's like the market itself, wild swings, or is that the death throes? Hard to tell anymore, everything is upside down?

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