Shares of DGART hit a new record low today, after a CNBC ‘Fast Money’ appearance where he rambled on about contangos, spreads, and all sorts of meaningless horseshit as it pertains to crude. If you recall, several months ago, Lord Gartman of the Appalachia declared the end of crude oil as we knew it, thanks to Lockheed Martin’s fusion technology. He posited crude oil could trade back down to a nickel at some point. Then he reversed course and start sucking on Saudi dick again, loving their crude flavor. Now he hates crude again, citing contangos, shmofangos and crack spread mumbo jumbo coupled with the lack of bullish price action in the face of GREAT BOOLISH NEWS out of Saudi Arabia and Nigeria, where terrorists ended up killing a bunch of people.
So fucking bullish.
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Fly the oil rally was china. Pm’s rally was china. I think china will pause the printer as the poor will starve again from increase food cost. Printing is not painless any more.
Oil – If Dartman says up I says down, if he says down I say up. But if Dartman says up and down, then down and up or up and down, then I’m confused.
Gartman is awsome, oil to $15.
so, it’s not too late too get short on a mini rally & oil will eventually go sub 20s