Dennis Gartman: ‘Scared’ and getting out of stocks for now - News and Current Events | futures io social day trading
futures io futures trading


Dennis Gartman: ‘Scared’ and getting out of stocks for now
Updated: Views / Replies:287 / 1
Created: by kbit Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

Dennis Gartman: ‘Scared’ and getting out of stocks for now

  #1 (permalink)
Elite Member
Aurora, Il USA
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: futures
 
kbit's Avatar
 
Posts: 5,872 since Nov 2010
Thanks: 3,301 given, 3,332 received

Dennis Gartman: ‘Scared’ and getting out of stocks for now

The recent pullback for markets, driven by momentum-stocks in the technology and biotech space, has just scared one big bull out of the markets.

Dennis Gartman, who edits the Gartman Letter, told CNBC in an interview late Monday he recently ‘got scared’ and moved his equity exposure to near zero from 100%. He said he’s sticking with gold and cash to ride out the “long-awaited and much-needed correction.”

Gartman, who earlier this month was still holding his bullish stock stance, basically got freaked out by 15 minutes on the markets Friday. In that short space of time, he said the market turned like he’d never seen it turn before. Friday was quite a day, with heavy selling of biotech and Internet stocks, pushing the Nasdaq Composite COMP +0.82% to its worst day in two months. The S&P 500 SPX +0.38% and Dow industrials DJIA +0.06% also dropped 1.3% and 1%, respectively, that day.

“Friday morning I came back from the gym, and I was very comfortable: I owned aluminum, I owned coal, I owned money-center banks. Then between 11 a.m. and 11:15 a.m. it was as if they flipped the switch. Everything changed: stocks changed, bonds changed, gold changed, currency changed — the whole world switched,” recalled Gartman.

Gartman said he won’t be buying stocks again until they get much cheaper.

He said Friday’s action was worth noting because it was a so-called outside reversal day, when both the high and the low price for the day, for a stock or index, exceeds those levels on the previous day. If there is downside follow-through, as Barron’s explained on Monday, it can also signal a market top. The Nasdaq logged a 1.2% drop on Monday, and a 4.6% fall over three sessions, to mark the worst three-day loss since November 2011.

Reversal days are common — they happen, said Gartman. However, reversal weeks are rare, and reversal months are rarer still. “It’s really, really important … we don’t get outside reversal months, where you make a new high and close below the previous month.”

Over on Twitter, there was plenty of eye-rolling going on, given that on April 1, Gartman was touting a bullish stance on stocks to CNBC.

Gartman may be missing out on a bounce, though, according to some. Milton Ezrati, market strategist and economist at Lord Abbett, told CNBC he expects earnings won’t disappoint and will “show people that the world’s not going to come to an end, just because names in social media are blowing up.”

Dennis Gartman: 'Scared' and getting out of stocks for now - The Tell - MarketWatch

Reply With Quote
 
  #2 (permalink)
 Vendor: highfrequencyfootprint.com 
Minneapolis Minnesota
 
Futures Experience: Advanced
Platform: NinjaTrader,Sierra Chart
Broker/Data: IQFeed
Favorite Futures: CL
 
Posts: 13 since Apr 2014
Thanks: 6 given, 3 received

He is scared-translation-likely loading up on stocks as we speak. QE ad infinitum will just lift them back. Just read last Fed's statement. They just like it 'easy'.

Reply With Quote

Reply



futures io > > > > Dennis Gartman: ‘Scared’ and getting out of stocks for now

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Linda Bradford Raschke: Reading The Tape

Elite only

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

January

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Dennis Gartman Now Long Of Flip Flopping In Laughing Stock Terms kbit News and Current Events 0 April 4th, 2012 07:43 PM
Jim Rogers is scared of a second term for Obama kbit News and Current Events 0 February 29th, 2012 06:59 PM
Why Europe Has Investors Running Scared—Again Quick Summary News and Current Events 0 December 12th, 2011 03:50 PM
Dennis Gartman: Commodities Sell-Off Presents Opportunity Quick Summary News and Current Events 0 December 27th, 2010 02:30 PM
DENNIS MILLER: MIDDLE EAST FOR DUMMIES tigertrader Off-Topic 0 October 16th, 2010 12:32 PM


All times are GMT -4. The time now is 08:39 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-12 in 0.08 seconds with 19 queries on phoenix via your IP 54.90.207.75