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Treasury Longs Beware: Gartman Is About To Be Stopped Out Of His 10Y Short
Less than one week ago, none other than Dennis Gartman gave the all clear signal to go long the 10Y treasury (on double seasonally-adjusted margin) when he proudly declared he went short. We appropriately commemorated this development:
From August 6:
It is time to be shot of the long end of the US bond market and we wish this morning to sell the September T-note future at or near to 126 3/4. We can imagine the front month future trading to 118-119 over the course of the next several months while at the same time we shall be willing to risk only 1 1/2 points to the upside. The top has been formed over the course of the last several months and we are willing to be short even ahead of tomorrow’s Employment Situation Report."
Fast forward to today, not even a week later, when we find that Gartman is about to be stopped out. To wit:
We were convinced that a top has been formed over the course of the last several months and we were willing to be short but the Chinese devaluation has wrought havoc upon us, catching us and everyone else out. As we write, the September t-note future is trading 128 ¼ and that is ¼ point above our “close only” stop.
Uhm, "everyone else"? In any case, this is where the 10Y trading now?
It goes without saying that once Gartman blows up on a trade (in monopoly money terms), either long or short as happens all the time, it is everyone's duty who profited from being on the other side, to close it out.
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GARTMAN IS STOLPER'S BIOLOGICAL TWIN SEPARATED AT BIRTH.
Does it matter to the tylers of zerohedge that Gartman's trading advice has been more accurate and profitable than any of y'all, by a long way, every year you have existed?
You anonymous wall street turds, flush with gold seller ad revenue, have duped a couple of fanboy bagholders into not only buying $1900 gold but have them cheering years later when it's clearly going sub$1000, stacking opportunity!!
Will even mention the fact you have been short everything during a record six year stock rally.
Poor little hedgies, listen to Gartman guys before you are short squeezed out of your home.
I guess part of your free shit plz pay package was a high speed internet conncection. Been at it 13 weeks and have an expert opinion on the ZH site do you? Or did that come with the suggested comments listing complete with bullet points and the bonus pay incentives if you can side-swipe a discussion?
You honestly think this site is not a mainstream pos don't you? It is more likely in your fanboy head that I work for some 3letter agency, than that I was a four year long member banned for making tyler look stupid, right?
This second rate fox news is not an object of fear for the establishment, it is an object of derision. Censorship loving 'subversives' playing fight club, oooooooohhh.
"GARTMAN IS STOLPER'S BIOLOGICAL TWIN SEPARATED AT BIRTH."
Nah, Stolper was just screwing the Muppets, as is "The Goldman way", with Goldman's own Prop desk, sorry I mean "Non-directionalbet client position hedging" desk on the other side of the recommendation. In Gartman's case it is less nefarious and amounts to just plain old stupidity?
This man is a national treasure.
Kind of like the world's largest ball of twine??? http://www.roadsideamerica.com/story/8543
Nope I disagree. Free shit plz is the new national treasure. now I know where all the job creation is coming from. Gamers who need high speed with porn. Small minimum wage for masquerading as intelligent while reciting bullet points and "suggested rebuttals" on various sites. (not FOX).
So Free shit plz plays video games, watches porn; puts in a few hours and pretends to himself that he is a secret spy...what fun. 13 weeks bub? that gives you HUGE credibility to comment on a multi year history of commentary and reporting, Nothing like winging it....on now knave. Get thee to the bullboards somewhere.
So Free shit plz plays video games
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Not true in the slightest.
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watches porn
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No comment.
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puts in a few hours and pretends to himself that he is a secret spy
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Wait I thought I was a spy, charged with infiltrating this subversive group of radical republican asskissers, and because fight club and shirtless brad pitt and shit.
Dennis Gartman: "but the Chinese devaluation has wrought havoc upon us, catching us and everyone else out."
Me on Twitter two weeks ago: "I've been ruminating the same quandary, only (temporary) solution I can see for China is to un-peg from the Dollar."
https://twitter.com/f0ster/status/626260750017826816
Just saying...
Keep Stackin!
"It is time to be shot..."
Typo of the year.
Like Goldman, when Gartman announces something- just do the opposite. It's a cinch. It's the same way with the government.
I'll be in Reno on NFL opening day. Will someone please ask Gartman who he likes? I might do a 6 team parlay.
Historically, anytime tyler says go short, you make money going long. Tyler has been inexorably bullish on gold since it hit $1900.
So I guess the same goes for these anonymous wall street turds masquerading as anything but.
Now thats a Spunk Barge there!
When this turd finally goes down the shitter, 'famous' entities like Gartman will be forgotten like the toilet paper that followed, never to be heard from again.
Unfortunately, these turds float like life preservers. They always come back to the top unless they toss themselves out of a 33rd floor window or nail gun themselves to death.
Fortunately they do stay alive - best contra indicator ever. We need those guys! :)
"Close only"
Give me a break
Technical analysis is not possible in this market.
so is fundamental analysis...only game left is Central banking anaylsis
one sentence wonder....I agree :-) So I have a question because I am not very well learned in all of this stuff...I had to look up what the frick VIX was yesterday... Anyway, I brought this up yesterday but why does the stock market when hitting a bad day or good day its never over 300 points? Today for instance, it was down like 270 or something and now down to 200? I mean, altho I am not well learned, I would not buy stocks right now. Who the frick is buying stocks at this point in time? The pee pee tee? companies still buybacks? As unlearned as I am I can still see this is a bunch of shit, its so fucking obvious.
UPDATE: now its 170 down...come on, who the fuck is buying this shit..I understand buy the dip, but dear jesus...
the folks who shorted, waited until the down momentum weakened - like a double bottom or big W, and then went long to cover, to book their profit on the early original short made when the news came out that triggered the short selling. got it? it's called taking a profit.
Thank you, I understand...now I am just wondering who are the "folks who shorted" ?? How would they know it would get better to make a profit? Are you telling me that there are "folks" that run this game on insider information and manipulation and the market is nothing but the insiders making money?
Pretty much. You can't even call it a conspiracy because it's not a secret. Not if you read Zero hedge.
coast, the market breadth has been news for a while now. its trading without any volume and fewer participants.
Thats a big technical indicator of riggedness
"Technical analysis is not possible in this market."
Really? Not possible huh?
That's friggin hilarious. It's working fine for me. It's clear that people who make comments like this know SHIT.
Well don't hold out. Are you using Fibs, MA, stochastics, SAR? Help a brother man.
You have to be on a shorter time frame.
Freddie,
Glad to see someone with a little TA knowledge - yes I'm on shorter time frames - who can hold overnight in this market?
Sorry, but can't give away the farm - I spent many years studying TA and finally hit paydirt. Good luck to you.
Someone should tell Gartmen he is really good at losing money.
Yeah? Well he makes up for it with his commission from selling Mary Kay cosmetics, so theres that...
Sure, but we might as well enjoy it whilst we can. Besides I've been pimping his name at work hoping my asshole of a boss might bite.
Listen to me Anthony. I got your head in a vise. I'll squash your fuckin' head like a grapefruit if you don't give me a name. Don't make me have to do this. Please. Come on! Don't make me be a bad guy. Come on. [Straining] Fuck you! This motherfucker. You believe this? Two fuckin' days and nights. Fuck me? Fuck me? You motherfucker! Fuck my mother? Is that what you're tellin' me? - [Skull Crunching]
Does he still have clients? With money? Fuckwit.
There is always a fresh group of cattle that wants to give such a guy a try. Been in the trading and advisory business over two decades now and continue to see similar fuck heads in action all over the globe. Even if you contront prospects or clients (love to do that) with a trade history of an adviser, they almost without exception want to continue to become/remain a client. I do not understand, but get the feeling that "it wont happen to me" reigns supreme... Same with heroine or nicotine I guess. Otherwise, I have no idea.
We are, to our detriment, long of the whipsaw.
His name was Dennis Corzine.
Somebody lead the dickhead to the top of a high building....quick....
He'll then make a "blue sky" comment and go all in...
In Monopoly Money terms... hilarious!
Gartman speak sounds very very intelligent.
"We were convinced" - IDIOT.
If something terrible happens to that man, I will personally give my blood to keep him alive - best indicator EVER.
The guy is just there to sell retail on the other side of the trade.
Meh. It wasn't his money.