FAST FIVE: Gartman Goes Short
Gartman Goes Short For those curious just what prompted stocks to soar today, besides the now traditional and thoroughly unjustified “trade optimism” barrage of headlines, we present one possible explanation: Dennis Gartman is out with his latest investment recommendation to short the S&P.
Wednesday, October 9th- at 30, up 1 “point” from Tuesday's closing level.
68 should be in anyone's estimation rather obviously close to 70.
If/when the December S&P falls below 2875, we'll add to that trade and if/when the December EURO STOXX 50 falls below 3300 we'll do the same.
Mr Powell's comments on Tuesday only serve to underscore that notion.