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Futures Drop More After Gartman Turns "Net Long Of Equities"
One week after Gartman was convinced there is 200 points of downside to the S&P and predicted a target of 1725-1750, only to be promptly stopped out 24 hours later, he has as of this morning turned "net long of equities."
There was massive confusion in the US equity market yesterday following the Fed “Nativist nondecision” on the Fed funds rate, for the market initially soared; then plunged; then soared again and the plunged, ending the day lower, but ending the day well below the day’s highs. For the year-to-date, as a result, our International Index has lost 338 “points” or 3.4% while the S&P is down 70 “points” or 3.4% also.
We are, here at TGL in our retirement fund, long of Apple and long of a “tanker’s” shares, whilst we are “short” of derivatives in sufficient quantity to be modestly net long of equities ...
As of this moment futures are now down 21 points.
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I wonder if he realizes about the market being opposite of what he says.
Gartman. The gift that goes on giving.
Fartman was right about rates holding steady
Gartman knows he has blown all of his retirement funds at TGL (from atrocious stock positioning) which is why he has to do cameos on networks like CNBC with declining viewership to make chump change so he can HAVE a retirement.
I am almost sure he went net long at he highs yesterday afternoon after Yellen was stuttering at the press conference.
is gartman a harvard guy? he is long of a tankers shares.....harvard is writing down a bankupted tanker investment.......global maritime cyprus
I now anoint Fartman ... "The King of the Falling Knives".
I hope not. I love using him as a perfect fade. Hope he doesn't change a thing.
It's like money in the bank.
yeah that guy is ... how can i say... "priceless" :)
I owned an iPhone, ONCE, never again..can't replace the battery? No USB slot? Apple acted like they were "letting me use their phone" rather it being mine with MY data...Fuck them.
Funny though, and iNut friend said of the newest iphone coming up..."I still haven't paid off this iphone"...
When Jobs died, he took Apple with him in spirit...all that is left of Apple on earth is the hollow body...
I currently own a Firephone because my net cost was $40...the phone is both amazing and a disaster...it's like they started with everything I hated about iphones, then layered a great phone of top of it...total fail...no wonder they're giving them away just to get rid of them.
Total battery hog, if you really use it's capabilities, it can eat 15% of the battery in 30 minutes...and you can't replace the battery...so if you're a heavy user, you're plugged in all the time...FAIL!
Moto G.
Moto G.
Republic Wireless.
$26/mo unlimited everything.
Been with them over 6 mos now and love it. Moto X or Moto G phones are a great switch from my iCrap.
Careful now. Gartman recently went long of Republic Wireless, and is pleasantly optimistic of Moto products. Just sayin'.
Tali-phone, flip-style, basically all it does is make a phone call (did figure out how to text). I'd prefer it had a dial instead of buttons.
I find it fascinating to watch people masturbate on their various phones, oblivious to the world around them, while others do the same, as they are so absorbed into whatever is on their phone. Sane people, sit and watch and try to interact, but are rebuffed and treated rudely.
I have a phone for emergencies. That's all it's for, and all it's for since they first came out. All that other shit is a complete waste of time.
Denis, my man, me and my inverse funds thank you.
No words.
Seriously does anyone follow this asshat?
Come on, anyone with an ounce of intelligence knows that anyone with his track record would be long gone in a normal situation. He is paid to do what he does. He is a control pysop. Plain and simple. We laugh at him but believe me, there are people who think he is a genius. They don't read ZH. They have nothing in the market but they stare at the screen, a little drool on the chin, and imagine they were as smart as him.
the weathermen do a better job of predicting than he does!
Are you saying he's almst too perfectly contrarian?
Agreed, he's so wrong he's a walking, talking parody.
I seriously doubt anyone thinks he is a genius, if they do it is another compelling argument to the stupidity of the US citizen, bring on President Camacho!
he is an entertainer, just from a different ilk than Cramer, but still just an entertainer. He talks a good game and people assume he is prescient
The hedge funds pay him to say this garbage so that they can have counter parties to unload their garbage to. Apparently it works.
Of course we do. Free money. The inverse Gartman trade has been a no miss.
Just ask youself: WWGD?
Then, do the opposite...
One of the greatest contra-indicators of all time.
American all star Muppet Hall of Fame.
No more articles Tyler. We are going to ruin the 2nd greatest indicator of all time.
Ok, bitch. I am all in!
Recon he gets a weekly check from the Fed?
He is the market stabilizer constantly pushing in an opposite direction to momentum.
The Fartman Put
Sell, Sell, Sell, Gartman's buying so sell!
whilst. feck off.
I thought he was going to wait a couple of months! He should change the name to the Gartman Impulse Letter.
Or the Gartman Mental Masturbation Letter.
Gartman is a fucking genius contrarian indicator. I've followed him for years before he appeared on CNBC. I'm stunned he still has any money left. I don't remember one time he was correct.
I dont think he can get on CNBS anymore because Melissa Lee can't resist rolling her eyes and laughing hysterically when she introduces him as the "World Renowned Gartman".
Its good NOT to be seen!
He's not buying. It's obvious that whatever he says, he tends to overlay the portfoliio with derivatives to remove or accept (more) risk in various areas. Nobody trades a portfolio that is for retirement like he says he does. The oversight board would have fired him long ago and farmed out the fund to external managers. Who trades a pension fund? You don't. Case in point: There is a major German trade-persons pension fund that places money with managers all around the world based based on 'best-of-breed' in a number of investment styles. Then, knowing how the managers invest, they take their own views of regional and asset-class risk, and use overlays on the overall portfolio to either reduce or augment the risk in areas that are regarded negatively positivelyl. This may be geographic, it may be asset asset-based (ie increased or decreasing the virtual amount of gold in the portfoilio, or increasing / decreasing exposure to Latin America). The underlying portfolio doesn't change very much, just the overlays.
Even so, day to day swings like Gartman purports, in virtual positions are ridiculous and a severe breach of fiduciary duty. I think the reality is that market moves are making the portfolio + overlays go net positive or negative - not consious choices and trading. ie Market goes up, Gartman blows his horn and says they are net positive. Then market goes down - the portfolio has not changed, just the values of various positions.
These articles about Gartman are short and cute, but they in no way reflect the reality of what is going on behind the scenes. He's not a contrarian indicator. All you are seeing is that a basically neutral portfolio is being taken into positive or negative territory as the market swings first one way ant then the other. Hasn't any of you wondered why his pronouncements have increased in frequency even as the market swings have increased in frequency?
Gartman is the contrarian indicator. An internal analysis of his recent calls has him at a 0.12% hit rate, which is about a 4 sigma event.
They aren't calls.
He is stating what his position looiks like - if you can believe that. It appears that yuou have not been involved in the management of pension money or you would understand what I am trying to say. If you take a long position and overlay it with derivatives so that it is delta neutral, and the market moves up, your position will be net long and the delta will be positive. So you announce that: My position is NET long the market. Then the market swings down (didn't one of you put up an article about the increasing frequency and depth of market swings), Without any change in the composition of your portfolio, you are now slightly short the market with negative delta. You announce that: My position is NET short the market.
The swings are what is makikng the move. To think that he is trading a PENSION account is ludicrous. I understand that it makes for good copy and draws the hits but your misuse of statistics (via the quote) is beneath what this site used to stand for. This is the same as Alarmists taking natural variations in weather and yelling "Global warming. Global warming".
Do you read any of these "short and cute" articles, or just comment without reading? Gartman states that he is making these trades, they're not the result of market valuation moves.
Do you read them? Did you read my comment? Whewre does he say he traded to get to this position?
"We are, here at TGL in our retirement fund, long of Apple and long of a “tanker’s” shares, whilst we are “short” of derivatives in sufficient quantity to be modestly net long of equities ..."
Really?, I bet Gartman does his P&L in crayon, i don't give him credit for being that sophisticated even in terms of Yen.
I believe you are overthinking this coin flipper.
Chin up Dennis, it'll get better. Maybe try shorting yourself and see if you can open a wormhole.
Fuck this guy, literally.
Short of brains.
Why does he talk like Andre from The League?
My dog groomer earned $9554 last week working from home using the new Inverse Relative Gartman Indicator.
I have completed all the paperwork and registration to be a financial advisor. And my new namtraG fund has just skyrocketed for my original group of investors!!
I bet he and John Kerry would get along well
Glad he isnt net long in CATHOLIC terms today atleast...
I own AAPL shares..... Should I be worried now that Dennis is long apple ?
Costanza - Do the Opposite
https://www.youtube.com/watch?v=cKUvKE3bQlY
I would like ZH, if it ever has any idle time, to compile a "Correlation chart" of Gartman's calls. Set up his "calls" into various time frames such as 24 hours, 1 week, 1 month and see if there is any correlation of his prediction to the actual outcomes, or even worse, whether there is indeed a negative correlation.
I hate to dump on a guy until there is some statitical analysis to support the dump.
Just inquirin
Or you can google Horizons Alphapro Gartman ETF.
The is no need for making fun of him and ruin. A daily trading news item can be released. Something like - Gartman goes long such, and sells such, etc.
Gartman is working blindly due to a Apple iphone upload glitch. Received my BlackBerry 10 update without a problem yesterday.
/hahahaha
GARTMAN GET YOUR SHIT TOGETHER!
JUST KIDDING. YOU ARE WIDELY ENTERTAINING!
:)
I wonder what Gartman's other part time job is, cause he sure as hell doesn't make any money trading.
Maybe he moonlights at Coney Island in the fortune telling tent.