He's funny cause he's... funny.
We are short of Brent while long of WTI, but the political situation over which we’ve no control has taken control of this spread rendering our position intolerable and forcing us to run for cover upon receipt of this commentary. Not to do so would be trading foolishness of the first order
Because in all other situtations when Gartman "puts" on crude positions (with whose money?) which are always a function of geopolitics, he does so only when he has control over the "political situation"? Gotcha.
Incidentally, here are the "trades" Gartman has on:
- Long of Seven Units of Gold/short of Two Units of the Yen and Five of the EUR
- Long of Three Units of the Canadian dollar/short of Three Units of the EUR
- Long of Two Units of new crop Hard Red Winter wheat/short of two units of Soft Red Winter Wheat
- Long of the four units of “dollars” and one Unit of Sterling/short of five units of the Yen
- Long of One Unit of August WTI crude/short of One Unit of August Brent crude
No, really.