Once every thousand years, the immortal gargoyle known to you as Dennis Gartman makes a great market call.
Just yesterday he told you to not be short of commodities, for he felt the money has already been made there. Instead, he’d greatly appreciate it if you were long of commodities, preferably in yen terms, so that he might execute his one great call per millennia, as transcribed in the New Testament.
Gold stocks are up 2.2%
Oil stocks are up more than 2%
Hell, silver is up 2%
Even steel stocks are up 1.2%
Even still, I don’t trust anything about this market. The margin clerks haven’t made their rounds yet and breadth stands at a paltry 58%.
Make no mistake, this is a very tenuous rally that could easily unravel and get ugly fast. If we are to bounce, there is a solid 500 points of upside left, so there’s no reason to rush in now.
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IMHO, Chinese Restockers and Speculators normally start putting in orders for commodities at the start of Golden Week (which lol is longer then a week), Shippers take time to travel and the stuff is there when they get back from holiday. But now that the Chinese Commodity Speculators are gone, Why should this pattern even be there? China has way too much to satisfy true demand. Chinese Commodity Speculators can’t buy things when they are in Jail Just big Popping Bubble. But I am a bear of course.
Fly – you still in ONCE?? waiting for phase 3 in couple weeks…goes to 70 or to 9 is the speculation – wonder if youre gambling or out?
Out of it
Fuck that
god hates a quitter…….just sayin
Lol!
Gartman is long of wrong
In yuan terms
In idiot terms
Exactly. Let’s wait more than one hour before we crown the next Pythia.
I suck at adding photos and the visual is better but yesterday on a cruise in Istanbul walking on Taksim road there is a fucking Shake Shack
500 points of upside vs. 5,000 points of downside. You are trading old-man style…get to cash and think with a clear head.
I always figured Gartman for more of a power bottom…. ¯\_(?)_/¯