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Gartman Flip-Flops Three Times In Three Days, Now See "Parabolic" Move Higher In Stocks
Having flip-flopped to bearish on Monday, just before a furious, 50 point S&P surge from the Sunday night lows, yesterday Dennis Gartman did what he does so very well, and once again changed his entire world outlook based on 1 trading day, and coupled with the shock that under central planning terrorism is now bullish, said that "we were clearly and obviously wrong, and when wrong the only possible action to take is to get less wrong; to cover that which had been done and to retreat to the sidelines. We did precisely that, covering in the short positions we had had in the derivatives markets... to end the day net neutral, or as close to net neutral as we could get ourselves."
That was our catalyst that not all may be well with the closing print, and sure enough, the S&P closed fractionally in the red.
Fast forward another 24 hours and here we are:
SHARE PRICES CONTINUE TO ADVANCE and they are doing so in the face of what happened last Friday evening in Paris, and they have done especially so in Europe as the DAX has risen by more than 2% since yesterday and so too the CAC in France, while the stock market in England has “lagged” behind, rising “only” nearly 2% but having failed to keep up with its continental brethren. We stand in abject awe and remain utterly and completely stunned by this show of patriotic fervor in Europe, but then again, the monetary authorities have no choice but to err expansionarily, have they? They’ve no choice but to expand the supply of reserves force fed into the system and until such time as those reserves can be taken up by the demands for plant, people and equipment they will find their way into equity investment.
Eventually this will end, and although some shall argue that this shall end badly, we note only that the trend remains upward and that no matter what is thrown at the markets these days they end higher. Those who have argued that this great experiment in monetary expansion shall end badly and shall end with increased inflation and rising gold prices while equities collapse have been proven utterly, completely and relentlessly wrong. We may not believe that this great experiment shall continue ad infinitum, but any time and every time we find ourselves philosophically dubious of what is going on and have attempted to take a bearish view our hands are slapped; our margins are depleted and our psyche struck down.
We’ve no choice then but to see in the “reversals” that took place on Monday the propensity still for the markets to head higher. Indeed, they may go parabolically so as the shorts run for cover and as those left behind rush to be included.
You know what to do. But the real punchline:
Finally we actually had several readers write to us yesterday to take us to task for insinuating that in light of our confusion regarding the upward explosion of stock prices following the terrible circumstances in Paris perhaps it would be best if even more such bombings and machine gunnings took place. We were stunned by these comments, wondering if these people had no notion of what irony is? Do we live in such a politically correct world that irony is now outlawed? Did they really, honestly believe that we were asking for more terror? Have we gone so far over the cliff of political correctness that this is what we have come to? To this end, we have no intention of apologizing. The thought is utterly alien."
One thing is certain: if anyone knows irony, it would be Dennis' clients.
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phew, my puts are safe
Dennis Gartman should take a double dose of sleeping pills and a very strong laxative. ;-)
Looney
Shartman
Sleeping SHARTman ;-)
Looney
"Investment Advisor:" Someone who will tell you tomorrow why the predictions he made yesterday didn't come true today.
Gartman is flip-flopping so rapidly now, he's losing his value as a contrary indicator...
>>>
Gartman is flip-flopping so rapidly now, he's losing his value as a contrary indicator...
<<<
Not sure about that.
Anyone tried running his recs -100% against the S&P future, with a small time delay and a loading for commissions/expenses?
Sometimes, very simple ideas can be incredibly profitable...
Watson
I just got this new pair of footwear. Their called Gartman's. Their flip-flops, but the problem is that they cannot decide in which direction to go, and when they finally make up their mind, it is always the wrong direction....
I think he'd make an excellent White House Press Secretary.
Dennis' "clients"?... Tyler, that should read client, and only if his Mother is still subscribing.
Why stop there? He's obviously already on half a med cabinet of hallucinogens. May as well take them all. What could possibly go wrong
:)
So we are definitely heading down in the markets now.
My last pay check was $9500 working 12 hours a week online. My sisters friend has been averaging 15k for months now and she works about 20 hours a week. I can't believe how easy it was once I tried it out. This is what I do... www.wallstreet34.com
That Grartman quote on irony made it clear to me: now we know the real-life identity of ZH-troll-supreme "MillionDollarBonus."
Dear Mr. Gartman, thank you for the daily chuckle! Keep up the good work.
Tomorrow: Aggressively NEUTRAL!
I respect Dennis gartman, no wait, he's an idiot. Hey, this flipping thing is kinda cool.
I had a boss like him and it drove me fucking crazy. Would base mid to long term decisions on single day outcomes. Half my fucking time was steering the asshole away from knee jerk bullshit.
I cannot believe people actually pay this turd for his "insight" about the markets. Then again, my ex-boss is now a senior VP. Clowns abound.
I'm sure Dilbert addressed your boss in some cartoon(s) or other, and Murphy has one or more laws to that effect. It's all been done before. Folks who can appear to have vision are merely those who can eloquently express their hindsight vision. Makes 'em look smart when the contrary is usually the case.
OK, I'm ready for a parabolic move down in stawks.
Does anyone take this guy seriously? I don't really know him and it's clear I don't need to.
Jim Cramit does.
Gartman really has no credibility, or just 100% credibility in reverse.
I wish Gartman would tell us food and gas were about to go threw the ceiling
OMG. This guy has no shame.
You can not use logic on an illogical "free" market. Trying to make sense out of nonsense will always confuse...
Long manipulation and deception, aka, non-gaap forever!
I do know that James Clapper and James Comey are traitors however.
Which is a shame, Comey at one point was on the right side.
http://www.nytimes.com/2007/05/16/washington/16nsa.html?_r=0
NM
Parabolic rise? So a flash crash it is then..
Parabolic flash crash
Does anyone actually put their own real money at risk iin trades/investments based upon the predictions of this weathervane yo-yo ?
1000 shares of TVIX on the Gartmeister! Keeps me in beer money????????
Oops! Dow up 256! Gartman was right! No beer for moi! :-)
he's100% right today about what happened yesterday
He and his foolish followers don't get the 'New normal'. Nothing matters but wild reckless spending and moar debt, until the day arrives that it all implodes. And no one can guess that date.
< “Nouriel Roubini says Paris attacks could boost the eurozone economy”>. Please, everyone go out and smash all your windows and do lots of damage; it’s good for the economy. You know the old “broken window” fallacy, whereby getting them all replaced gives people jobs. Accordingly, the very best thing would be if Paris got nuked by ISIS, then the bankers would add more stimulus and QE and the economy would go off the charts. Hell, bulls should all hope they nuke New York, then the Fed would inject $10 Trillion in new QE and the Dow would break all records. Of course, they would have to run the Fed and the exchange from their ‘secret’ remote locations…but no matter. Home Depot stock, double within hours.
People really believe this sick perverse logic…why not, most don’t give a shit about anything as long as the markets go higher. More wars, more deaths and destruction…“So, how’d the markets do today?”
America’s youth have such great role models…actors with issues…right. Does anybody really wonder why ISIS appeals to teenagers? “Get two free pairs of personalized Nike basketball shoes - autographed by your favorite NBA player, come join ISIS!” “Rich man’s society got you down…while you can’t even afford the newest I-Phone? Some punk jacked your Escalade? Can’t stand the Donald? Come join ISIS!”
He should work at IHOP .... he'd make excellent pancakes.
That's where is going to end up working if ZH keeps this up, it's hilarious. I almost feel sorry for the bastard. Nothing is better than seeing a pic of Gartman with the deer in the headlights look and wondering what hilarity is ensuing now.
Gartman "The Fish"...flip floppling all day long! Wall Street would be more fun with mafia names. Lloyd "The Dome" Blankfein, Jamie "Pretty Boy" Dimon, Janet "Patsy" Yellen...Stan "the weasel" Fischer
Starting in the 70's, openly, the mafia did take over Wall Street. Mafia kids, names already changed by their parents, went to law school, business school, etc., and then into the board rooms of corporate Amerika. From there the natural path to fascism took over. See War Profittering, Prison for Profit, etc.
Plutocracy/Oligarchy 2016 your vote is useless!
He may be right in the short-term if the Fed Minutes are dovish today.
November opex and the Thanksgiving holiday for the win!
r = -1.00
+1000 he he heeee
Its hard to play contrarian with Gartman if he's not going to stick with a position.
Dennis, no one is asking you to apologize for this dreamed up insult to your sense of irony. They are asking you to apologize for profiteering off your grand lie that you have any ability to produce an accurate market forecast. You don't know what you are doing, your acumen is being called into question, and as a result you are creating a straw man argument which you can speak out against in confidence.
We all see what you are doing.
Its not his fault the powers that be cant make up their mind. He's just a messenger for the REAL DICKHEADS.
He's right about irony and it's dangers. NSA have said more than once that their failure to perfect an irony-detection algorithm is hampering surveillance and causing a lot of unnecessary investigations, detainments and deaths among punters with a dark sense of humour.
Furthermore, their staff are not smart enough to detect irony either
I mean , sense of humour was never a big thing with lantern jawed FBI, CIA and military personnel.
Try a joke with a cop , the TSA or immigration if you are tired of living.
When you think , getting this right reliably in about 150 cultures and languages must be an anerous task.
Pretty clear Fartman has suffered a brain-injuring stroke at this point.
Like Krugman, Gartman is a publicity hound and talking head MORON with little credibility, integrity or character. They both make for great print and laughs with their heads stuck up their asses by approaching the markets (with small world views) looking through a straw.
Except for the laughter and idiotic moments they spew for readers, they should be completely ignored. They are a sideshow for entertainment purposes only.
Good luck to everyone...
Oh this is gonna be good: When the S&P swoons soon to 1980-2000, Gartman will dung himself and announce that "We have failed to read the sincerity of the market in its sombre reflection of coming rate hikes, and we admit to thus being wrong. However, having faced the enemy, and he is us, we have learned our lesson and thus irrevocably elect to be short of this market once again."
At this point, the S&P will reverse and countertrend rally to 2080 -2100.
Y'all know the script from there.
How do his subscribers keep up with this? I'm exhausted just reading this shit. Sidelines tomorrow, if not this afternoon!
What a dick.
Fuck this guy.
The man is at least not without some redeeming qualities, refusing to submit to the dictats of the political correct is admirable.
My message to Gartman is to carry on ignoring your detractors and keep on flipping.
(obligatory financial disclosure : I have significant funds invested in brokers).