This page has been archived and commenting is disabled.
The Best Possible News For Gold: Gartman Is Finally A Seller (And Buyer Of Oil)
The best possible news for gold longs has finally arrived, courtesy of the man with the golden market-timing, no pun intended, newsletter:
SPOT GOLD: Runnin “Smack” Into Long Term Resistance: We turned supportive of gold several weeks ago rather publically [ZH: sic], but now gold in US dollar terms is running into what we fear shall be formidable resistance… with the margin clerks around the world looking to sell gold to raise liquidity as stocks come under very real pressure.
Oh, and just in case you were scared to keep shorting oil...
CRUDE OIL PRICES ARE LOWER BUT WE ARE CHANGING OUR VIEW ON PRICES for having been overtly and rather relentlessly… and very publically… bearish, we are this morning turning bullish of crude oil and we are turning so because the term structure shifts mandate that we do so.
* * *
We do not make this statement lightly for this is a material shift in our view of the energy market… a very material shift.
* * *
Amidst the carnage of the global stock markets this morning and even in light of the sustained bear market in crude oil, the narrowing of the contangos in Brent and WTI brings us to become a buyer of crude as noted at length above. We’ll buy a unit of crude oil, split between Brent and WTI, upon receipt of this commentary. We shall, for the moment, give these prices the latitude to move 3% against us, hoping that we can tighten that up when we return Monday.
Thank you Dennis: we couldn't possibly do it without you.
»
- 20059 reads
- Printer-friendly version
- Send to friend
- advertisements -
LOL. The ultimate bullish indicator.
WooHoo!!!
That does it; I'm all in, baby!
best news this week for me
http://www.denk-bubbles.com/dennis
In addition to being a mediocre trader, Gartman is an insufferable. pompous ass.
Wow, usually he's short 1 unit of the "pet rock" and long 1 unit of the "pet rock". Seriously, who pays for this drivel?
I don't think I've ever seen two such ridiculous calls in one article before.
These truly are heady days.
If you can keep your head when all about you
Are losing theirs and blaming it on you,
apparently you are not a viable Black baby at a Planned Abortionhood harvesting center. No way to keep your head there
Oil is the new widowmaker. Glad to see the dumbest guy in the room is long oil.
I'm a buyer of PM's I can hold, but in a crash, they'll temporarily go down with everything else I think. So I'm not bullish gold until the crash has occurred and it dawns on people that gold is a good thing to hold now.
Ultimate dickweed.
He shoud do promos for laxatives with that picture.
Mydoctor said Mylanta
My first trade when markets are crashing and the fear is palpable is to sell gold.
Gartman? Is that you?
Sure, we lose money on every trade....but we make up for it in VOLUME!
Gartman, what a dumb ass.
HaHa- make up for it in volume.........classic!
exactly! This is why we need to give Iran back $150B
"margin clerks around the world looking to sell gold to raise liquidity"
... no kidding!
Sounds like they stacked bullion under their mattresses ...
I can't decide who the biggest douche on CNBC is. Cramer and the Fast Money guys shrieking about HOUSING and HOME DEPOT, Fartman and his stupid "bullish of x in y terms" nonsense, Bob Piss On Me telling how the market is "off da lowz," or the idiot guests they parade out there to slam gold and pump the market higher.
"Mush" is at it again! Gotta love this guy!
https://www.youtube.com/watch?v=8PLSyFzk-6g
Hahaha! Gartman a seller and Druckenmiller a buyer. Hmmm, who do I believe???
This might be a good place to get back in...
raoul -- druckenmiller did not buy gold. he bought PAPER. he did not take delivery of even one freakin gram of physical. unlike this: Morgan is stockpiling physical silver while shorting the futures market where the price is set. And the most shocking of all, the Big Long, which is the purchase of 9.23 tons of physical gold by HSBC and Goldman Sachs in less than a week. The banks have each made two separate purchases, but the purchases have coincided with each other and may be setting up a trend. anyone who buys paper is an absolute fool. there are approximately 124 paper claims per each ounce of physical
But do you realize it's that paper market that determines the value of your physical? And that paper market has GREATLY increased the value of your physical gold.
You'd better hope that paper market remains healthy, otherwise your physical will be worth a LOT less.
everything, including the children's allowance is on AU
www.teamramgold.com/about-us
does he run a hedge fund?
A Scrub fund.
At least you can say one thing about Dennis.
He's the captain of his own ship... And when it's sinking with all the life boats and "May West(s)" taken he'll be the only one left holding his breath to the "2,000" foot bottom!
Gold is up... check...
and my miners are down???!!!
Last I checked the miners are STOCKS, so yes they are down. I would guess gold is not in the clear yet.
Every time gold advances, they find a stash. Ukraine, Greece, Shipwrecks..........and now NAZI gold. One in a billion chance???? http://www.bbc.com/news/world-europe-33994483
some treasure hunters found some spanish coins in florida last week.. that explains everything.. its ok people...back to your desk/sleep ...oh and look its on fox!!
http://www.foxnews.com/science/2015/08/21/divers-recover-45m-in-gold-coin-off-florida-beach/?intcmp=hpbt4
www.teamramgold.com/about-us
And best of all that bit of news comes straight from the bbc that bastion of journalistic integrity that would never "guild the lilly"!
http://www.kitco.com/news/2015-08-21/Sunken-1715-Spanish-treasure-ship-y...
The only hope for stocks now is for Gartman to go short...
lol publically. I'll remember that one :D
lol Dennis the Pen-nis missed his calling as "knife catcher" at the circus.
Thanks Dennis!
hmmm Gartman selling gold? And people pay this insouisiant clown $15,000 per year for his annual trading subscription?
( was reading Paul C. Roberts, had to throw that word in there...is so intellectual don"t you think? )
best buy for the next year are
1) USD
and
2) gold