Gartman: "In Our Retirement Funds We Shifted To Modestly Net Short, We Have Had No Choice"
In a world of sheer confusion and pervasive central bank intervention, there is one immovable force of stability and direction: Dennis Gartman. Here is his latest:
SHARE PRICE CONTINUE THEIR PARLOUS, GLOBAL WEAKNESS as all ten of the markets comprising our International Index have fallen since we marked things on Friday morning, with several markets down more than 1% and with one market… that in mainland China… down by more than 3% and with several others down by more than 1%, sufficient to take our index down another 1.3%. It is now down 684 “points” for the year-to-date or a stunning 7.2% and it is now down 2,359 “points” or 21.1% from its high made in late May.
We believe we’ve been rather clear about our view of the equity markets here in the US and abroad: this is a bear market and it began, with the benefit of retrospect, back when our International index made its high May 25th at 11,186. One only knows the high of a bull market and the low of a bar market in retrospect, but the important thing is finally to recognize that fact and when recognized to trade effectively. As we have said here for years, during a bull market there are only three positions that one can have: aggressively long; modestly long or neutral. In a bear market, one can have only one of three positions also: aggressively short; modestly short or neutral. In our retirement funds here at TGL we began last week and indeed we began the year modestly long but by the weeks’ end we had shifted to modestly net short. We have had no choice. The market’s voice was loud and very clear.
End result:
- S&P FUTURES +16PTS, NEAR SESSION HIGH; WTI NOW LITTLE CHANGED
(6 votes)
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Then we can expect a modest rally, today.
Is their a better example of an "ass clown" than Gartman?
Cramer
BUY, MORTIMER! FOR THE LOVE OF GOD AND ALL THAT IS HOLY, BUY!!!!eleven!!!!!
good point
Cramer might know he's giving malicious advice. Gartman is just clueless. He always trades after the move is almost over.
And again, who shit in this man's Wheaties?
He's clearly confused if he thinks he's been clear.
"Then we can expect a modest rally, today."
Yes, at 3:30pm.
Todays trades.... locked in. Thanks again, Dennis.
how does this guy get any notoriety? does he own a media outlet? fucking ignorance as in ignore...
Gartman, once again predicting what already happened.
Thats the trick selling fools a tub of shit.
Why does he have a job?
Because the fucking banks pay for his research and he is related to someone on CNBC..... Neither require a third party track record verification.
If I was an employee at TGL (how many are there, exactly? Two?) I think I'd have to sue my employer for breach of fiduciary duty on my retirement account. And for abject stupidity.
Floor ,albeit temporary, must be getting close. Hope I am wrong and you are right Denny.
This dude is just plain stuck on stupid.
Good thing he gets that $200.00 for sharing his vast knowledge on T.V.
so everybody races to cover lol
Well, the asshole has been a better contrarian than Goldman lately. Sometimes you gotta finish the ride until it stops.
Okay, I bought every triple leveraged long etf I could find. Thanks Gartman. How the fuck does this guy still have clients?
FYI, someone *cough* *Trafigura-Glencore-Noble* *cought* Is pushing up CU with all their might. If CU closes below $2, waterfall collateral calls incoming.
Typicaly Gartman: https://www.youtube.com/watch?v=X9Zkq9id-9A
Let the bears have a decent party ffs...
Well "the market" says gold is $1102.10, silver $14.00, platinum $860 and Bitcoin unchanged, so everything must be A-O.K.
Yep. With what happened in China, they must be pumping counterfeit paper gold and silver into the market by the tons to keep the spot price down.
Peter Principle in operation. Getting on Gartman's elevator is a sure trip to the basement: he's not on it, himself, the cables will snap and the emergency brakes don't work.
OK, thanks for the "tip" Dennis; 1950 - 1975 on the SP500 within 48 hours.
www.traderzoo.mobi
It's going to rip for a week or two now.... thanks Dennis!!
One trick is to always say, "I was FORCED to...." "It's out of my hands". "I had no choice". That sort of thing.
I prefer people who say, "I chose to do THIS, and here are some of my reasons."
Not defending Gartman, but this is an oversold, dead-cat bounce. Nothing fundamentally has changed unless it was for the worse. And no central bank has stepped in front of this train...........yet. Until then, the trend is down.
In that case he'll probably turn bullish and the trend will resume down.
If Gartman was net long at the beginning of the year and last week, he is losing his ass. Good job Dennis.
The Fed needs new analysts with Dennis' qualifications and foresight.
Dennis, apply here: http://www.federalreserve.gov/careers/
"The Congress has entrusted the Federal Reserve with great responsibilities. In every phase of our work and decisionmaking, we consider the well-being of the American people and the prosperity of our nation."
Chair Janet L. Yellen
Gartman has more waffles than Aunt Jemima....
Gartman: "Buy high, sell low."
He's just setting you guys up.
You know what, Gartman might for the first time in a VERY VERY VERY LONG TIME be right on this one... and it makes me soil my boxers as to what this means for life the universe and everything.
Thus, we have no choice but to go modestly long. Thanks for warning Gartman.
So how often does he a make correct "stopped clock" call?
Thanks Cartman... Go modestly NET long. Got it!
".......bar market........."
Now it all makes sense.
This is like watching a marionette show. I can see the strings controlling his lips.
"The Market" :-)
Thats it. Im starting a fund. its going to be called the Anti Gartman / Goldman fund and does exactly the opposite of what they say. If they both agree on a strategy, I triple exposure and lever the fuck out of it.
Im looking for names. Gartman - Goldman levered negative squared Investment Advisors?
Word on the street is, once futures touched 1930, Dennis puked his shorts and is "now gently net long of futures".
I too really wish he would stop commenting. I was going to short the S&P today... Not now...
Why does this shithead always say "we"?
7 October 2015: Crude is no longer aggressively bidding for storage as it was it was six or seven weeks ago," said the Gartman Letter Editor Tuesday on CNBC's "Fast Money." "I think you've seen the lows."