Thanks
Gartman on gold
Started by
securelstmile
, Mar 19 2008 04:52 PM
3 replies to this topic
#1
Posted 19 March 2008 - 04:52 PM
The harder I work, the luckier I get.
#3
Posted 19 March 2008 - 06:27 PM
Thanks!!!!
The harder I work, the luckier I get.
#4
Posted 20 March 2008 - 10:30 PM
Gartman SUCKS as a "public" guru, as do ALL public gurus, but especially the ones on CNBC, including, of course, King Tout Crammah. If he can trade his own account, fine (and if Jim C. can front run his own stock, that's fine, too).
100% of EVERY commodity guy will tell you what the "TREND" is, and to trade WITH the trend. So, last I had heard, Gartman was quite BULLISH gold.
So now, after a $65 drop in a day, or whatever, he says it's going down.
Well, what if you put 100% of your life savings into gold on his previous bullish call?
Ya, ya, ya, I know, ur not supposed to do that and yadda, yadda, yadda....but WHO does "SMART MONEY" go out to? Hedge fund managers or average JERKS who watch CNBC?
Answer: the latter.
And they don't sit in front of screens, and they DIDN'T take the 1 hour turtle breakdown in gold at EXACTLY 3pm hourly bar on Tues. 3/18/08.....so they are not short gold.
And if they get short gold now, it will probably bounce up $40 in a day and smoke them that way.
Point is, I hate listening to a TV moron tell me, "the trend on gold is up"....when anybody with 1st grade math can figure out that $1000/oz. is UP compared to $250/oz. 7 years ago.
And then, next thing I know, that same TV moron is telling me that the trend is no longer up, just as soon as was bullish.
The "Great" Gartman? All yours. A discard from my pile, unless he's gonna let me in on his PRIVATE trades, and not his SmartMoney crap.
WHY do those guys, supposedly good traders, even waste time on TV? They must be getting paid more appearance money than Tiger Woods, I guess...
TDM










