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Gartman: Selling On Monday, "Hunkering Down" On Tuesday, Now "Hedged" And "Comfortable"
The greenlight to buy is over. On Monday, before the the S&P unleashed its latest rip higher on "hope for a dovish rate hike"we cautioned bears that "bulls may have one final trump card up their sleeve" - Dennis Gartman. This is what he said on Monday:
On Friday we said that we were considering adding short hedges to our retirement funds in order to protect against the downside, but we failed to act; that is we did not make that an “official” recommendation and indeed we did not take any such action on our own. Clearly we should have. Clearly things were coming apart at the edges of the markets and clearly, in retrospect, we should have taken action. We’ll do so today on any minor intra-day strength that might evolve and as we write stock index futures are trading 12-13 “Big Figures” higher and that might serve as enough intra-day strength into which to sell.
Then yesterday, after the initial rip, we again said "Bears Beware: Dennis Gartman Is Having None Of This Rally", to wit:
That said, we are very gravely concerned about the validity of a bull market and the harsh reality of a bear market in global terms, for one after another after another of the various markets around the world is breaking upward sloping trend lines; has topped out well below previous highs and is making new and lower lows. This we find disconcerting and this we find worthy of note. It is time once again to seek the safety of the sidelines. This is not the time to be aggressively bullish of equities but rather this is the time for… as we say here in the South… “hunkering down,” for getting smaller, for curtailing exposure.
So, another 20+ point in the S&P higher since his latest analysis, here is Gartman's latest take on the markets:
... given the material and very clear breaking of trend lines that extend back several months in a number of broad, international stock indices we moved to generally “neutralize” our positions by taking on derivative positions to hedge ourselves. We did so mid-morning yesterday and now are comfortable sitting through the Fed’s decision… or “non”-decision as the case may be… later this afternoon.
To summarize: he was shorting on Monday, hunkering down on Tuesday, and "neutralizing" and "hedging ourselves" this Wednesday morning.
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Great day to strangle some bitches. Stay liquid my friends.
Even a blind squirrel, inside a broken clock, is smarter than Gartman TWICE A DAY! ;-)
Looney
So basically the Fed will bid up the /ES 30 points this afternoon when the announcement is made, Gartman will then remove his hedges, and then the /ES will tank 40 points. Game, set, match.
A.F.G = Always Fade Gartman
Such a well published Daytrader.
Like to see his balance sheets as opposed to his talking points.
He'll be the first to tell you that he's not using real money. It's all pretend.
I heard that if you type the word 'lardass' on an apple device, it autocorrects to the word 'gartman'.
I cannot figure out who's losing their investors the most money, Gartman or Ackman.
This guy is like a weathervane. Of what use is this?
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EurGold are selling all of their 1oz silver coins for just €12!
These include:
1oz Silver Vienna Philharmonic 2015.
1oz Silver American Eagle 2015.
1oz Silver Canadian Maple Leaf 2015.
1oz Silver Perth Mint Kookaburra 2015.
https://www.eurgold.de/silver/silver-coins/
Silver 1oz Vienna Philharmonic 2015 Master Box (500pcs) - €7,859.69.
https://www.eurgold.de/silver/silver-coins/500-x-1oz-silver-vienna-philharmonic-2015-master-box/
Silver 1oz American Eagle 2015 Master Box (500pcs) - €7,949.17.
https://www.eurgold.de/silver/silver-coins/500-x-1oz-silver-american-eagle-2015-master-box/
Silver 1oz Canadian Maple Leaf 2015 Master Box (500pcs) - €7,775.52.
https://www.eurgold.de/silver/silver-coins/500-x-1oz-silver-canadian-maple-leaf-2015-master-box/
All major credit cards accepted. Sale ends 31st December 2015.
My foe’s enemy is my friend. This is how the well-known wisdom puts it and it appears to have become the ideological basis of the mutually beneficial cooperation between Israel and the Kurds fighting IS terrorists and other radical groups on the Syrian land.
http://homment.com/secret-kurdistans-ally
....adding short hedges to our retirement funds in order to protect against the downside....
You have the Federal Reserve put, what more do you need?
Sure sounds like Vegas shills to me; place your bets on both green and red, and hope the ball doesn't stop on 0 (or 00), but for our sake, please place some bets. That's why the financial sociopaths hate gold and silver; they don't make any money if you don't place bets.
The MSM should lead this guy onto the set on all fours with a rope around his neck and a donkey tale stapled to his ass.
Neutral WTF! I can't trade without the anti-Gartman indicator.
Hey Gartman, the thrill of anticipation has worn off long ago. Just tell us how much money you lost yesterday and get off the stage.
Wasn't he bearish two days ago? Man, this guy is never right.
He put his two dollars back in the safe.
Where's Gartmans Taint?
One day soon, these hedges wont work.
Unless they cost the same as the risk, a hedge is basically relying on someone promising something they wont deliver when the shtf.
I just love Gartman, I think he has a pretty mouth.
Dear Dennis,
If you are not sure what you are doing, and when you are gonna do it, just go downstairs into the broker game and take your commission for handling a couple of phone calls.
I'm seriously considering opening a small fund called Namtrag.
did he give any "terms", he forgot terms! shit.......