This page has been archived and commenting is disabled.
Gartman Does it Again: Stocks Set To Surge As Newsletter Bulls Hit 6 Year Low
If there is one thing more or less guaranteed to create a bullish scenario for stocks, it is the sudden flip-flop of world-renowned newsletter writer Dennis Gartman once again to a short-of-stocks position. Worse still, his fellow newsletter writers, according to AAII, have not been this 'unbullish' since the trough in March 2009. Of course, what many are missing this morning isd 120 points of The Dow's gains are due to the panic-intervention by The BoJ at last night's Japan open...
Gartman: "Full-fledged bear market"... Long of tanker stocks, derivatives-hedged to a short overall equity position...
And AAII % Bullish drops to March 2009 levels (and bull/bear difference lowest since the dip in 2012)..
As Bloomberg notes,
Bullish newsletter writers tracked by Investors Intelligence sink to 27.8%, lowest reading since bear market nadir in March 2009 when bulls were 26.4%; bottom in stocks “may be close or at hand,” says II. Bulls were at 31.6% last week.
Bears rise to highest since Nov. 2012 to 26.8% vs 22.5% last week
Correction falls to 45.4% from 45.9%, remains at highest levels since Oct. and is 4th week correction tops bulls
Bull-bear spread contracts to 1.0 vs 9.1, smallest spread since string of negative readings in Oct. 2011
But thgen again, this "rally" is predicated on The BoJ's liftathon at Japan's open last night...
Charts: @Not_Jim_Cramer and Bloomberg
»
- 26125 reads
- Printer-friendly version
- Send to friend
- advertisements -
The BEST contrarian indicator of ALL-TIME
He's no Tom Stolper. Dennis would have a LONG way to go just to equal Tom's pristine .000 batting average.
He is a very short-term day trader. No sense following him.
I am a fucking moron!
Dennis Gartman
Ironically, Gartman is so consistently wrong, it might by worth subscribing to his newsletter so I can take the opposite side of all his trades.
Hmmmm...
ZH suggested awhile back that an "inverse" Gartman fund be created. One could invest $100 in the fund and turn it into $1Million in a year!
Thank you Dennis, I was starting to feel a little impatient with my long e-mini position!
He's their designated CONTRARIAN signal generator...and get's paid well for it
If this market crap doesn't work out for him.....I'm pretty sure he could get a full time gig on the Simpsons.
Jack Bogle's personal "Exhibit A"
Dennis, we know you are on ZH, what is your ZH Avatar name LOL?
He looks (rightfully so) totally defeated in that clip. He's been on full-tilt for so long now that it's finally taking a toll. There's no way he can't look at himself in the mirror and not realize he's become a joke and laughing stock.
Blue, I'm not so sure that was a look of defeat. Its more of the look one gets after downing a quart of gin the night before
a blind squirrel occassionally finds a nut
Central banks to dump $1.5 trillion FX reserves by end-2016 -DeutscheBank
http://mobile.reuters.com/article/idUSL5N11738B20150901
Good Lord, can this guy take a position for longer than 12 hours? I can't imagine reading his crap on a daily basis. Both his subscriber's heads must be spinning.
I don't think so. You don't ever want to be as lost as this guy.
Actually, his subscribers should flog themselves for paying this fool for taking their money and replacing it with the worst possible advice you can get...on second thought, they deserve each other...
The look on Gartmans face just screams......Pull my finger!!
Really? When I see his face it looks like he is thinking...."just shoot me".
"I don't know what the fuck I'm doing"
"I wonder why they keep inviting me back on."
Looks like a gap and go today.... PPT has been busy
It seems everybody is beating this guy up, but I didn't hear him say a single thing I wouldn't agree with.
Three hours from now when he sends out his next newsletter and changes his opinion to super-bullish (and, believe me, he will do EXACTLY THAT), would you still agree with him?
No. In that case he'd be wrong. lol
Gartman is like an Alice in Wonderland character, 'I'm long! I'm short! I'm long AND short!' For fucks sakes....
If Gartman is long and short then his boner must be super floppy and elastic.
At some point you'd have to expect him to be accurate retroactively, but he's been so reliably wrong you have to give the contrarian indicator the benefit of the doubt until it shows otherwise. I should have been paying more attention to rebalance out of some VXX. Guess I'll just wait until Elul 29 and make decisions after that.
Thanks Dennis! I assume your face is always stuck like it is in the still pic for the video.
This is like Mel Gibson in Consipiracy Theory where he is getting water boarded and comes up saying:
"I believe"
The thing I like about Mel Gibson is his stability......I hate drama.
Not sure what that means in this context, but I up-voted you for the reference. I liked that movie, and I rarely like Mel Gibson movies.
"Yeah, at one level these groups are at war with eachother but on another level.... they're all the same people."
I like that movie too, but I down voted you (for the first time ever) because I think Mel had a lot of good movies before he went certifiable.
I down voted you because Mel Gibson didn't go certifiable.
He was always certifiable. He just hid it better when he was younger.
The Road Warrior/Mad Max movies are still epic pieces of film, burned into my brain to this day. That's why I said "rarely" instead of "never".
missed his calling as a weatherman...
I'm impressed he get a paycheck for this shit. Some dumb fucks follow him.
The same that voted for the Kenyan & the other candidate.
Who will start a Gartman Contrarian tracker? They'll be able at least to pay for his shite letter.
So choppy seas are a sign of stability and there is no storm coming? Got it.
Gartman needs a sailor Captain's hat, worn at a juanty angle.
Writes his letter in iambic pentameter and Queen's English...
lulz
Amazing how many people need to listen to other ''guessers''. Even spending money to subsribe to their ''newsletter'
These are the same morons who will donate to idiots like Alex Jones.
A fool and his money are soon parted.
All you have to do is use your OWN brain (if you have one).
Check Elsevier stock and see what their track record is over the years. Also Shell oil is a bargain right now.
Amazing how many people need to listen to other ''guessers''. Even spending money to subsribe to their ''newsletter'
These are the same morons who will donate to idiots like Alex Jones.
A fool and his money are soon parted.
All you have to do is use your OWN brain (if you have one).
Check Elsevier stock and see what their track record is over the years. Also Shell oil is a bargain right now.
Says the fool with no money; you are right in the implications that it is guesswork unless you are "The Insiders". All are fools from heavens perspective; the only one that counts at the very end, which like the markets, we know it will, but when?
Let's see here. Changing positions means selling existing longs and making new shorts, so 2 transactions are required for each change, multiply by 20 changes per month, multiply by about $7 per trade = $280/mo in transaction fees. That sounds reasonable.
C'mon boys - DG nailed the USD rally vs. Yen/Euro and it has been one of the best trades in decades.
I get more from a 10 minute scan of Zero Hedge morning headlines than hours reading BJ, WSJ, etc... Thanks, Tyler D.
Agreed.
Here are a couple of more I have been reading and find useful.
http://johngaltfla.com/wordpress/category/economics/
http://www.thestreet.com/author/1175182/KenGoldberg/all.html
Gartman doesn't know anything but what is in yersterday's newspapers. Go steal someone's trash and read their old WSJ. You will be just as informed.
"Of course, what many are missing this morning isd 120 points of The Dow's gains are due to the panic-intervention by The BoJ at last night's Japan open..."
'Panic intervention'...? I'd say more like - at the 'gentle' behest of the Treasury/Fed...
Dennis, relax. Take a walk outside. Get some sun. Find yourself.
But please don't stop with your calls, they are adding to our P & L faster than Bill Clinton headed after an intern...............You are truly the finest contrary indicator going!
I am a drunk.
Dennis Gartman
Seriously, are those "books by the foot" on that bookshelf?
"Please remove the Ceti eel" - Gartman
I think it would be awesome if Zero Hedge was run by Gartman