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Is This Why Copper Is Collapsing?
Copper prices are in free-fall this morning, slammed lower by the "good-enough" jobs data.
But we suspect the real reason lies elsewhere... A bottom in commodity prices may come within the next few months, if it already hasn't passed, Dennis Gartman said Thursday.
"I do think that the worst is absolutely behind us because all anyone ever talks about is how awful the commodity market is. I think for the first time in a long time it's proper to be bullish commodities; they may still go down some but I have my severe doubts."
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Nailed It!
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Who hired this Cretin?
I think he is self-employed.
Just bringing in the sheeple for slaughter.
Look up douchebag in the dictionary for a pic of him
I'll show him hitting bottom!
Is it my eyes or does he look more and more baked every time we see him?
So Dennis, would that also mean the bottom is in for gold/silver too?
Gartman = N E V E R - R I G H T
Don't worry, they are kneecapping PMs real good. Like you knew they would.
In what parallel universe would the abysmal failure Fartman be promoted to the masses as someone to take advice from? He must be very well paid to so consistently appear the fool.
Only in the paper market. In the real world its getting harder to find, but they avoid the real world as much as possible.....
I'm telling you, when I look at his face, I see a guy who is thinking.."just shoot me now, I don't know wtf I am doing".
lol.
Where do people find these strange prorgams with lot's of silly people on them.
CNBC, Bloomberg and Fox Business feature idiots as hosts, commentators and guests almost exclusively.
I imagine there's a few subscribing to his newsletter.......his timing on wrong calls couldn't be better, proven track record for sure.
His subscribers also have their accounts with Goldman Sucks...Nuttin' more be said...
awkward
Copper is a good indicator of what's really going on in China, PLUS the state of the emerging markets. The continued drops in the price of copper show that the global economy has SERIOUSLY CRATERED. In fact, the prices of key commodities (copper, oil) are looking so bad, the conclusion is that this is worse than 2008.
+1
This is exactly what severe deflation does to commodity markets..........yes, it's a very bad omen of what's to come.
Bullshit. For those of us with real inputs, cheaper copper means wider margins so go fuck yourself.
Annnnnd take that fucking shirt off.
Look at the bright side, nearly 40% of all Silver produced is a by-product of copper.
Exactly! These morons are perfect examples of what can pass for "expert analysis" in the mainstream financial media. There was some moron on Marketwatch yesterday who wrote a column where he said the bottom in commodities may have been reached BECAUSE of the fall in equities worldwide. Gawd!
When the business MSM go off the air due to a permanent revulsion among the public toward the stock market that spelled their doom, that's when it's going to be time to dip into the mattress and go long.
All the commodities, but especially copper, are being traded for cash and collateral in China.
Now that many of the stocks are not allowed to be sold
Chinese traders are substituting commodity plays for cash flow and margin calls.
I reminded of all those positive comments after the 1929 crash, the comments kept coming allll the way down. lol
PS. PMs in AUD pretty steady of late...the point of owning them.
Just give us the signal when you go super bulltard on crude Denny - need the all clear sign long SCO.
A tale of woe
http://www.theglobeandmail.com/globe-investor/investment-ideas/celebrity...
Gartman ETF, named after advisor Dennis Gartman, ubiquitous author of the Gartman Letter, an investment advisory, couldn’t harness the benefits of its fortunate timing. The fund went public at $10 a share. Those same shares now fetch around $7.90.
That was in 2013. What about now?
So many comments about the man...Do the Tylers have a dedicated Gartman analyst just as the FT has a dedicated Goldman reporter?
The 'mark-its' for equities and commodities are dependent on the whims of Fed bureaucrats. If you know what is going to happen (Golden BalSach prop desks), you can build wealth. If you dont have insider information, your best bet is land and/or cash businesses that you own and operate backed by real, flexible, productive assets.
Of all the commodities that Gartman has commeneted on, Copper is the bain of his existence. That guy is road kill in front or behind copper, no matter which way it moves.
Ah, that would explain the old nickname, "Dr. Copper." Because anything that gives forward guidance on the course of the global economy, Gartman, the ultimate contrarian indicator, will get wrong.
I'm looking for SSE Rally on Sunday
Yesterday at the scrap yard dropping off from a job demo. Steel 80 a ton , copper 1.90 lb, brass 1.25 , alu cans .40 c ( last time we scraped copper 2.84)
... said "Wrong Way" Feldman. - Gilligans Island.
LOL. This guy is so fucking funny.
The guy at ZeroHedge that is making these funny graphs, you are a winner in my book!
This whole contrived bullshit reminds me of that bridge in the Northwest that shook itself apart after a little breeze (The Fed) set up a harmonic vibration that could not be stopped.
Galloping Gertie.
That guy that left his dog in the car while he ran off the bridge is a bigger asshole than Gartman.
Galloping Gertie
https://www.youtube.com/watch?v=j-zczJXSxnw
Dynamic harmonic instability. Good analogy.
Good time to add some copper rounds to your portfolio
http://www.apmex.com/category/60010/copper-rounds
The only way we know for sure a price will not go down is if it's already at zero. The people with the real crystal balls don't broadcast what the future will hold. In the meantime more money can be confiscated by enticing a few suckers into the market.
No doubt they're working on a way to get negative paper prices for PMs. Probably about the time there's no available physical supply anymore.
Gartman is a cunt, everybody knows. But to show a freaking 2 minute chart with his comments on a volatile commodity in th best of times is just being silly...
Note to self, check copper roof pricing, (16 oz/Sq ft), getting cheap, .....but fire sale is coming $1.75, I'll wait and save, the idiot cash burn is too fun to watch.
do you have a source (web site) I could monitor? Copper roof would be great, Aluminum would also be good.
What’s copper used for in the modern world?
Pennies are gone. Isn’t piping now PEX?
Electronics and wiring are probably the most important uses of copper.
Circuit boards have all copper traces (sometimes overplated with other metals), most semiconductor leadframes are also copper.
All of the electrical transmission, both bulk power lines and in your house, are copper.
Brass for fixtures (plumbing, lighting, etc.) is primarily copper. Heat sinks ... jacketed bullets ... etc.
Wrong on bulk power lines.
http://www.southwire.com/products/ACSR.htm
Presently, copper is used in building construction, power generation and transmission, electronic product manufacturing, and the production of industrial machinery and transportation vehicles. Copper wiring and plumbing are integral to the appliances, heating and cooling systems, and telecommunications links used every day in homes and businesses. Copper is an essential component in the motors, wiring, radiators, connectors, brakes, and bearings used in cars and trucks. The average car contains 1.5 kilometers (0.9 mile) of copper wire, and the total amount of copper ranges from 20 kilograms (44 pounds) in small cars to 45 kilograms (99 pounds) in luxury and hybrid vehicles.
(had to look it up.... http://geology.com/usgs/uses-of-copper/)
BTW copper is an analog and stor for energy, and we're in a an artificial energy market to promote a political agenda (war against Russia and the EU ) artificial markets can be changed in a nanosecond.
At the speed of light it takes about 65 millisecods to change things. Actual time will be longer.
History disagrees with Gartman. The bottom does not come when interest rates are at zero and the economy is still relatively strong.
Ugh, Dennis - read some history books. Deflation is the next course in this meal of govt control, although the govt don't like it.
Dennis I'll give you a fiver if you'll go long of fiat and short of Ag, hell, let's make it ten, because
I figure you could really use it if you are actually talking your book and not just head faking the muppets.