This page has been archived and commenting is disabled.

Gartman Is No Longer Bearish

Tyler Durden's picture




 

In a world in which not even the Fed has any clue how to read "some" economic data while ignoring others ahead of what is setting up as the most important rate hike, a "jarring" one in the words of Lloyd Blankfein, there is one certain indicator left: Dennis Gartman. Here is the latest.

We turned openly, but moderately, bearish of shares late last week and for a day or two we appeared to have been wise in our decision. Clearly that wisdom has waned rather materially in the course of the last two trading sessions and following the Fed’s non-decision yesterday we found ourselves covering in the calls we had written against our “tanker” shares as well as covering in some of the derivatives we had had in place, thus taking our net position in our retirement funds from one that was modestly net bearish to one that is nearly net market neutral.

 

Finally, we find it interesting how suddenly the market has fallen out of hatred for the simple markets such as steel, copper, railroads, shipping et al and has fallen into veritable “lust” for those same industries. Here at TGL we are always far more amenable to owning these simple companies than we are to owning Big Pharma and high technology for we can count the number of rail cars moving; we can count the number of containers aboard ships; we can count mining sums and steel smelted et al. These simple companies endemic to global economic growth are and have been and always shall be our favorites. Give us millions of tonnes of cold, rolled steel any time over “eyeball counts,” “gigs” and the like.

We, on the other hand, will settle for the daily flip-flop.

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Thu, 07/30/2015 - 07:20 | 6370314 ParkAveFlasher
ParkAveFlasher's picture

Six flags, bitchez!

Thu, 07/30/2015 - 07:27 | 6370328 VinceFostersGhost
VinceFostersGhost's picture

 

 

Market closed up....we're bullish.

 

Market closed down...we're bearish.

 

Thanks for that chief.

Thu, 07/30/2015 - 07:32 | 6370338 keremetski
keremetski's picture

no longer bearish, but remains stupidish.

Thu, 07/30/2015 - 07:37 | 6370347 ParkAveFlasher
ParkAveFlasher's picture

"We will cautiously remain not openly stupidish, with an overt but not-reserved inclination towards suggestive leanings bullish / bearish."

Thu, 07/30/2015 - 07:47 | 6370365 philipat
philipat's picture

Pleasantly Assholeish.....

Thu, 07/30/2015 - 07:48 | 6370366 PartysOver
PartysOver's picture

Neutral is code for Clueless. 

Thu, 07/30/2015 - 08:10 | 6370417 negative rates
negative rates's picture

I'll settle for going all in.

Thu, 07/30/2015 - 08:12 | 6370424 mvsjcl
mvsjcl's picture

Sell! SELL! SELLLLLLL!!!!!!!

Thu, 07/30/2015 - 08:31 | 6370468 Richard Chesler
Richard Chesler's picture

Some times bear

Some times bull

Always douche

Thu, 07/30/2015 - 08:03 | 6370399 Slomotrainwreck
Slomotrainwreck's picture

...taking our net position in our retirement funds from one that was modestly net bearish to one that is nearly net market neutral

 

Other words, Moving positions from way under water to funds to ones that are not as bad off.

Other words, "Deck Chairs"

Thu, 07/30/2015 - 07:42 | 6370355 monkeyboy
monkeyboy's picture

Two sessions maketh a trend

Thu, 07/30/2015 - 07:20 | 6370316 blown income
blown income's picture

Fuck Gartman...

 

 

Good morning...

 

-Blown

Thu, 07/30/2015 - 07:49 | 6370369 Peter Pan
Peter Pan's picture

Excuse my ignorance but can anyone tell me what Gartman's claim to fame is?

Thu, 07/30/2015 - 08:09 | 6370414 CHX
CHX's picture

He is the ultimate contrarian indicator. Betting against his call is right way more often than not.

Thu, 07/30/2015 - 08:11 | 6370423 bentaxle
bentaxle's picture

He's a comedian, with a small but passionate set of followers. Any more of this shit though and won't be long before he's the butt of stand-up's in Vegas, rather than performing as one there.

Thu, 07/30/2015 - 07:22 | 6370319 Mohan
Mohan's picture

Wake up the bears.

Thu, 07/30/2015 - 07:23 | 6370320 SmokinMonkey
SmokinMonkey's picture

The Fartman is at it again

Thu, 07/30/2015 - 07:52 | 6370377 JamaicaJim
JamaicaJim's picture

I actually farted when I saw Fartman speak at a convention...tracked his "picks" for the year....ALL in the red....

THE FUCK

Thu, 07/30/2015 - 07:25 | 6370323 i_call_you_my_base
i_call_you_my_base's picture

How did this dumbfuck every become known?

Thu, 07/30/2015 - 08:06 | 6370406 flyingpigg
flyingpigg's picture

I believe Gartman was competing with Stolper for the top ranking in the Vaporizer Advisory list.

Thu, 07/30/2015 - 07:25 | 6370327 Grouchy Marx
Grouchy Marx's picture

This move was simply Fed neutral, not market neutral. Who is he trying to fool?

Thu, 07/30/2015 - 07:28 | 6370330 VinceFostersGhost
VinceFostersGhost's picture

 

 

You use the word neutral...when you don't actually know what the hell you're doing.

Thu, 07/30/2015 - 08:13 | 6370430 negative rates
negative rates's picture

Fool me once shambers on me, fool me twice shambers on you.

Thu, 07/30/2015 - 07:32 | 6370337 firstdivision
firstdivision's picture

Sell All the Things!

Thu, 07/30/2015 - 07:46 | 6370361 JD59
JD59's picture

Gartman is a snake oil salesman.

Thu, 07/30/2015 - 08:06 | 6370405 yogibear
yogibear's picture

He should join Dick Bove.

Thu, 07/30/2015 - 08:07 | 6370410 Dien Bien Poo
Dien Bien Poo's picture

Gartman is delirious. Hes drunk on hes own ass smell.

Thu, 07/30/2015 - 08:49 | 6370523 Atomizer
Atomizer's picture

Gartman should be in jail. He's the extension of Warren Buffet Oracle prediction years ago. This fucker will be caught conducting insider trading. 

Thu, 07/30/2015 - 08:50 | 6370527 Tim Knight from...
Tim Knight from Slope of Hope's picture

"Bearish of......."

 

"Covering in the calls"

 

Is English this guy's 6th language? Is his mouth connected to Google Translate?

Fri, 07/31/2015 - 23:39 | 6377853 mkhs
mkhs's picture

Yeah.  He is out sourcing his letter to a chop shop in Bangladesh.

Thu, 07/30/2015 - 08:53 | 6370534 chanxmanx
chanxmanx's picture

Anyone created a Gartman indicator showing how he's the best at top or bottom ticking the market?

Thu, 07/30/2015 - 11:31 | 6370621 Chuck Knoblauch
Chuck Knoblauch's picture

Where else is the fucking money going to go.

Chinese fear porn monger.

Thu, 07/30/2015 - 09:43 | 6370726 vegas
vegas's picture

WTF, Gartman has retirement funds? OMG!

 

www.traderzoo.mobi

Thu, 07/30/2015 - 09:50 | 6370761 Two Theives and...
Two Theives and a Liar's picture

I'd take financial advice from Cartman way before Gartman!

Thu, 07/30/2015 - 10:06 | 6370823 idontcare
idontcare's picture

Gartman has less credibility than Jim Cramer.

Thu, 07/30/2015 - 10:44 | 6370935 sheikurbootie
sheikurbootie's picture

He now might be slightly bearish/bullish, but he's always 100% dumbass.

Thu, 07/30/2015 - 11:19 | 6371023 Yen Cross
Yen Cross's picture

  I picture Gartmans clientele as a bunch of old chinese farmers, and their wives sitting next to their CRT monitors knitting away.

Thu, 07/30/2015 - 12:34 | 6371374 viejofeo
viejofeo's picture

It's sad that this joker can even sustain himself on the useless advice he peddles...but, the bigger idiots are the ones that actually have him come on their show for an interview...

Sun, 08/02/2015 - 04:49 | 6380722 Rakksan
Rakksan's picture

CNBC fool along with Cramer. Fools,fools fools.

Do NOT follow this link or you will be banned from the site!