Faster than Dennis......

Puddnhead

Hi guys!
I saw on CNBC that Gartman, in 2014, only wanted to own corn (commodities). Now, he says "no" to corn. I thought gold was the thing. I wonder if it's in yen terms. Since I don't get his letter (silly me!), I missed this great move along with his oil call. Duke says I have to move faster if I want to keep up to Dennis. I've sold my largest holding: the S&P 500 index. Smart? We'll see. I just think this market has to correct. Earnings are down. At some point, that has to matter. Will buy it back on a correction with more mid caps (the index), healthcare and overseas funds. Have not bought NSC or WEMMX yet. Everything's on hold. Will only sell right now. Another vacation day -- this is great!!!
the Pudd

scott

Puddnhead said:

Hi guys!
I saw on CNBC that Gartman, in 2014, only wanted to own corn (commodities). Now, he says "no" to corn. I thought gold was the thing. I wonder if it's in yen terms. Since I don't get his letter (silly me!), I missed this great move along with his oil call. Duke says I have to move faster if I want to keep up to Dennis. I've sold my largest holding: the S&P 500 index. Smart? We'll see. I just think this market has to correct. Earnings are down. At some point, that has to matter. Will buy it back on a correction with more mid caps (the index), healthcare and overseas funds. Have not bought NSC or WEMMX yet. Everything's on hold. Will only sell right now. Another vacation day -- this is great!!!
the Pudd

A few months ago I mentioned that I realized that one of CNBC's producers is Gartman's daughter. It was then apparent how he's on there all the damn time and no one ever questions his calls.

Gartman was - at one point - worth a chuckle, but now the "gold in whatever currency dawns on him at the moment" BS is just becoming irritating. He flip flops constantly and no one ever calls him on it. The traders on "Fast Money" sometimes look either annoyed or perplexed by him.

NSC dropped to about $100 after the earnings miss and then rebounded. Where to start a position is up to you (and I like UNP, CP, CNI personally) but I continue to say that the rails are something you buy and forget about. In terms of ultra-long term holdings, they remain at the top of the list.

Puddnhead

Hi Scott!
Yes, Dennis is very annoying. The only fun you get is to see him be wrong so often. The railroad I will buy and hold long term. They don't make them anymore. It's just that I want it for less than where it's at (lol). I have seen lots of bad press on them lately, and my thinking is it will go lower.
the Pudd

Old_Joe

Hello Puddnhead- yes, I'm thinking that you're "on the right track" on this. (No pun was intended- it just came out that way.)

LLJB

If you want to take cracks at Gartman you should at least do it for the right reason. He's a guy who makes recommendations 24 hours at a time. The thing that I think CNBC does a bad job at is disclosing how their talking heads trade so people watching know whether what they're saying has any value to them. He does change his opinion frequently but that's his way and I believe he does pretty well at it. Anyone who tries to trade based on his recommendations on CNBC is running a big risk that they'll find out way too late when he changes his mind.

Tampabay

"Earnings are down. At some point......"

Is this "Breaking" news.....new to me? 76% of Reported companies are up, maybe you mean the other 24% (losers)? Back to CNBC...

scott

LLJB said:

If you want to take cracks at Gartman you should at least do it for the right reason. He's a guy who makes recommendations 24 hours at a time. The thing that I think CNBC does a bad job at is disclosing how their talking heads trade so people watching know whether what they're saying has any value to them. He does change his opinion frequently but that's his way and I believe he does pretty well at it. Anyone who tries to trade based on his recommendations on CNBC is running a big risk that they'll find out way too late when he changes his mind.

In terms of record, his Canadian ETF was lousy and is no longer. I haven't looked, but I believe the Gartman Risk on/Risk Off ETFs are also gone.

I don't really care either way, but the whole, "I'm long oil in Kazakhstani tenge" (or whatever currency/commodity that day) gets ridiculous..

LLJB

scott said:

In terms of record, his Canadian ETF was lousy and is no longer.

Yeah, I'm aware of that and I'm not sure I'd want to give him my money to manage but that's mostly because I agree with some of his opinions and disagree with others. I don't even know how many people trade his recommendations because my impression is that many of his subscribers are institutional investors and they probably value the summary of the news and some technical analysis as much as the recommendations.

I don't know anything about the ETF but he also has Canadian "notes" that allow him to adjust the portfolio only once a month. In my opinion that's a very long time considering the way he does things but that's how they work.

Puddnhead

Hi Tampa.
I had to re-read my post because I thought I said more than six (6) words: "76% of reported companies are up?" Up? By what indicator? Sales and revenue....probably 100% beat on that, right? So, if you're so bullish, what are you buying? Or, did you just get up from a nap (crabby?)?
I'm here to learn. Teach me or bother me not. To teach is the greatest gift from God.....waste it not.
God bless.
the Pudd

Tampabay

Not buying anything, prices high and I'm all in...riding the market gains till???????