This evening on CNBC, Dennis Gartman, told his audience to ‘fade crude’, in egregious terms. He thinks “hedgers” are coming back into the market and that $50 might be a top. CNBC host, Melissa Lee, called him out, saying “just last week you were never as bullish on crude. What’s changed?”
He then hem and hawed and said “oil would never go to $75” and how it “couldn’t get past $60” because of ‘hedgers’.
He closed out his missive saying ‘crude oil has lost my interest.’
Him and the fucking hedgers.
My take: D. Gartman just fucked himself. Prepare for $75 crude. The stock gods mock Dennis on a regular basis.
Discuss.
If you enjoy the content at iBankCoin, please follow us on Twitter
Goldman has a target of $20. They will take it there to bankrupt the asshole firm long massive amounts of oil below $50. Then they will pick over the bones. Oh yeah they will take down the global financial system with them.
I’d like to talk to you; but hold on, I need to put on my tinned foil hat first.
I am always right. Always. Remember my ISIS call last year. You called me a conspiracy theorist. I am a fucking prophet son. I am the alpha and the omega. I control the horizontal and the vertical.
Also I suspect the TBTF banks were nationalized in 2009 secretly. That’s why no prosecutions. And they are involved in all sorts of nefarious behaviors. Good day sir.
Seriously, how could anyone ever subscribe to Gartman’s newsletter? The guy is a complete joke.
Goldman doesn’t have a PT of $20. No one actually reads the report. They say there is a chance.
Long oil
Gartman appears to be fading himself. Aside from the that clown show, I don’t think crude goes higher. Seems the whole premise for higher prices is that a lot of production will go be taken offline as financially burdened companies cease production. $HYG isn’t signalling that anymore. I am short XLE.
Gartman the unpainted clown. Take a good look at that face.
The deflationary vortex has a variable speed control and it can thereby ramp up quickly. It is picking up speed right now, but that hasn’t really shown up in equities yet. When it does, crude will get the poleaxe, absent any geopolitical war event.
I just told the wife to fill up the Roadmaster before the local gas station runs out of their allotment.
BlueStar is GOD!!!
The short-term double top in CL is complete!
LOWER WE GO DR. FLY!
Crude goes higher. We all know it, even Bluestar. For god sakes can the shorts be anymore transparent?
I notice that crude futures have not closed above $50 on the daily chart.