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Gartman: "We Should All Be In Survival Mode Today, This Is Not The Time For Courage"
Nothing like some morning humor to diffuse the general feeling of financial apocalypse, which today comes courtesy of the best contrarian market indicator known to man and algo, Dennis Gartman:
WTI CRUDE OIL: We Turned Bullish Too Early! The term structure might have made us shift from being manifestly bearish of crude to being incipiently bullish but we were far too early in doing so in light of the panic in the capital markets globally.
* * *
We were taken out of our long position in crude oil on Friday… thankfully… for the full 3% risk was hit then against both WTI and Brent crude; those not out should be out… now! This is no environment for rank speculation
Some good news for bulls: the long overdue snapback may be imminent.
STOCK PRICES HAVE A LONG WAY TO FALL, WE FEAR!: This is the S&P in monthly terms and now that this first trend line has been broken we fear that the second one drawn here may eventually be put to test over the course of the next several months.
And the punchline:
Finally, we should all be in “survival mode” today; there is no reason to take action of any sort other than to raise liquidity where necessary in order to survive the present chaotic situation. The margin clerks are in control today and they can and will move markets where they wish and in whatever manner they wish. They have only one concern: the survival of their own companies and that must always be remembered. Can the EUR move even higher beyond the ludicrous level to which it has already risen? Yes, of course it can. Should it? No, of course it should not, but that matters not a whit this morning. Survival is all that matters. All else is secondary, even if that means surviving with far less liquidity than one had only mid-week last week.
* * *
This is time for retaining what liquidity we can muster; this is not a time for courage. Get smaller; get liquid and get safe. This is getting ugly and we can only hope it does not get worse.
Monopoly money liquidity, of course. And now, back to the less than humorous reality.
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ROTFLMAO
Moron, Gartman that is.
http://www.denk-bubbles.com/dennis/
This Is Not The Time For Courage
Heh heh.....puss.
As if for Gartman there was such a time as a time for courage
Gartman Courage? NAWWW
Gartman Idiot? YESSSS
Dude is still no Tom Stolper. But he's getting closer.
Rhat's why it's discouraging to hear hear him turn fearful. My flash crash positions are likely to to waste again :(
I thought this might really be it - the big one. Gartman just broke my heart.
In a sell off.............No one is listening to Gartman so no doing the opposite.
Did I unbreak your heart?
Fuck, this species is so fucked. That doofus has subscribers; would ya believe that.
He is a moron. A "drateR" (Retard spelled backwards) is more descript.
However, a broken clock is right twice a day. So, he is right twice in 24 hours in terms of advice transactions - 2 out of 1.440 trades is about right.
Nova
Hey Nova! A good morning to you!
i've been using your word 'Drater' since you explained your invention of it several months ago.....its handy, thank you! Just wanted to let you know I appreciate your wordcraft.
Comes in handy with teenagers and/or their friends !
How often is a broken record (for those of you who remember) right?
That depends on the artist; some artists sound better when the record is broken.
Screaming "buy" signal.
So the bears will get Gartmaned for 100SP points in the last hour of trading? Sounds about right.
Broken clock may just be right this minute.
Stay nimble, but a locked 1911 is dangerous in unsteady hands... If the margin clerks aren't dumping gold with everything else- it's still only a flesh wound. I want a "timeline" longer than Gartman's to gauge my actions and the the dominant intermediate term trend.
BWHAHAHAHAHAH!!!...Investing and survival advice from Gartman?...BWHAHAHAHAHAHAHAH!!!!!...The only liquidity, Gartman, is in your Fruit-of-da-Loom this morning.
I called it.
Dumbfuck is wearing a diaper today.
...& he's gonna need changed by lunch time...
Is the Mack daddy in the fueher bunker with a Walther ppk yet?
Naw, they can do what they did in 2007, open the Fed Discount Window, TAF Auction Facility.
Liquidity becoming a problem from covering too many positions...?
Bank of America Corp.,Bank of America Corp.*,,,,,,,,,,
Ticker,BAC US Equity,,,,,,,,,,
Includes Loans to:,"Banc of America Securities LLC, Banc of America Securities LLC, Banc of America Securities LLC, Banc of America Securities LLC, Bank of America NA, Bank of America Corp., FIA Card Services NA and Bank of America NA",,,,,,,,,,
Identified in Fed Documents as:,"BANC OF AMER SCTY, Banc of America Securities LLC, Banc of America Securities LLC, Banc of America Securities LLC, BANK OF AMER NA, Bank of America, FIA CARD SVC NA and BANK OF AMER NA",,,,,,,,,,
Capital Raised From Home Governments,"$45,000.00",,,,,,,,,,
Programs,"AMLF, PDCF, TSLF, ST OMO, TAF, CPFF, TAF, DW",,,,,,,,,,
Country,United States,,,,,,,,,,
Industry,Banking,,,,,,,,,,
"Average Daily Balance
From 8/1/2007 to 4/30/2010","$20,712.39 ",,,,,,,,,,
Peak Amount of Debt,"$91,400.00 ",,,,,,,,,,
Peak Date,2/26/2009,,,,,,,,,,
With DOW futures down a mere 651 points?
That is a bold statement, sir!
Sounds like Gartman is short EUR too!
I'm sure the MSM's are trying to book Schiff...
/S
( picture of Jim Rogers on a tractor goes here )
Let me guess....wearing a tank helmet?
So we should be catching ever knife we see as there is going to be a 9 am reversal to new highs?
Finally he gets it! Gartman follows the ZH side bar pop ups as tea leaves!....this morning instead of tee shirts and foreign brides, its Redwing shoes and Silver!
Just be sure to buy the Made in the USA Redwings and not their China crap.
As a paid CIA Shill News Reader, I'm sure he is going to survive a lot better than the rest of us.
I can't raise my liquidity any higher.
We're all the way back to 2014 levels!!! PANIC
remain calm, all is well
https://www.youtube.com/watch?v=zDAmPIq29ro
'Bubble Pop!'
https://www.youtube.com/watch?v=bw9CALKOvAI
someone else posted it this morning.
Like a well is just another hole in the ground, that calm??
Li Qui Di Ti
I'd stay away from this bipolar market today.
It will be fun to watch.
Time to go long
get liquid, huh?
Based on the red color of Gartman's nose, I would say he gets liquid quite often...
Sounds like a buy signal
Yep, buying this fucking dip.
Summer sell-off, minor slump......
He yelled from his lifeboat to the sinking ship.
Just get in there and sell! Sell! Sell! - Mortimer (Gartman) Duke
https://www.youtube.com/watch?v=obAoPP1bdIM
have a. Look at the monthly chart of the Cac40!
The recent top, Touched the trend line and backed off, we now have a triangle setup from back on the 2000 top.
This is the first leg down of five, and I have a target sub 2,500 and that's only the bottom of the triangle.
Looking at the timing we going down for a few years!!!
Farmland and Gold are the smart areas to park your cash.
This fucking prick just put the fucking bottom in!