Dennis Gartman

[winston]

Gartman: Recession at Bottom Now By: Julie Crawshaw

Dennis Gartman says the recession has reached has hit its bottom.

“From here on out the data is going to get better,” Gartman told Bloomberg.

“Now, it’s not going to get dramatically better, but the worst is clearly behind us.”

In agriculture, conditions “have been unbelievably good,” Gartman says.

“The soybean crop looks fantastic. The corn crop is as high as an elephant’s eye,” Gartman notes.

“Prices may be low, but the farm community is going to be talking to itself saying what a year this has been.”

“If corn prices are down 20 percent, 30 percent from last year, but you’re getting 40 percent more crop out of the ground, you’re doing pretty well, thank you very much,” he pointed out.

Worrying about inflation caused by rising food prices is probably ill-advised, Gartman says, noting that the consumer price index declined 1.4 percent in May — the largest drop since January 1950.

Economist Gary Becker worries that Federal Reserve Chairman Ben Bernanke may not raise interest rates quickly enough to contain inflation, Bloomberg also reports.

Becker notes that Bernanke can sell Treasury bonds instead of purchasing them and reverse the central bank’s emergency programs that expand credit.

“Will he do that if that has a risk of slowing down the recovery?” Becker asks.

“He’ll be under political pressure not to do so, so that’s a big uncertainty.”

“I think he’ll do something, surely to try and control that, but I’m not sure he’ll have the will to do it sharply enough.”

Source: Newsmax.

http://moneynews.newsmax.com/streettalk ... 45299.html

[winston]

Gold

...perhaps the most important comment we can make relative to the forex market... and relative to nearly all capital markets generally... [this week] is that there is growing disdain for currencies generally and there is growing enamourment of gold as the most important "currency" of all.

We are not Gold Bugs here at The Gartman Letter. That is rather obvious, for on balance we've long subscribed to the Keynesian notion that gold is indeed a "barbarous relic." We've been disdainful of the Gold Bugs during our entire career, seeing most of them as gun-toting, canned-food hoarding, doomsday-awaiting crotchety old geezers with little good to say about society generally, and much bad.

However, with the advent of the spending, entitlement and tax programs being put forth by the current Administration, and with the same sorts of tax/spend programs being embraced so fully abroad, gold's become the third reservable currency after the US dollar and the EUR, and it is swiftly on its way to becoming the 2nd.


– Dennis Gartman,
The Gartman Letter

[winston]

Dennis Gartman on CNBC now.

Almost everyone he knows is short the US Dollar

So he want to be close to the exit, in case there's an event that would force all these people to cover their short US$ position.

[winston]

Gartman: Don't Be Naive, Gold Is A Bubble by Vincent Fernando

Dennis Gartman and Andrew Sorkin discuss the weak dollar and gold. Both see gold as a bubble. Yet Gartman still holds gold regardless. There's a great currency discussion overall from Mr. Gartman.

1:35 -- "I'm long gold... a bit."

2:00 -- "We have to remember, it's not the Fed's obligation to pay attention to the dollar. "

3:00 -- "Pick a number, [Gold] will continue to go up until it stops... It is a bubble. To say otherwise would be naive, that's really what it is."

http://www.businessinsider.com/gartman- ... le-2009-11

[winston]

Dennis Gartman on CNBC's Fast Money:-

"Think like a Fundamentalist. Trade like a Technician "

[LenaHuat]

2 forumers quote Gartman in their 'banners' and so I thought I should read what this guru says.
And this is the first time I'm reading this man's lips and this is his take on Dubai:-

The Dubai problem has "legs," with plenty of potential ramifications that remain to be seen, Gartman said.

"What's taken capital markets, stock markets higher these past few months has been a growing optimism. ... The fact that Abu Dhabi has not come immediately to the aid of its sister emirate raise concerns, raises confusion," he explained.

"And I have a saying: confusion breeds contempt."

He was right abt Abu Dhabi's hesistancy in going to the rescue of Dubai. I think those millionaire bankers in London will definitely get big haircuts.

[winston]

With the dollar's strength increasing, investors should be wary of the market correcting itself, says Dennis Gartman, founder of The Gartman Letter.

Stocks could easily tank, he said.

"You should be aware of the fact that a correction is probably setting in (and) that this could be a bit more than a two or three percent correction, that perhaps something along the lines of five to ten percent is upon us, and I think you need to be very, very careful," Gartman told CNBC.

Investors expecting more good news to arise from the earnings season will likely be disappointed, he said.

Source: Newsmax

[winston]

GARTMAN: THIS IS MORE THAN A 7-10% CORRECTION

Dennis Gartman, an economist and editor of the Gartman Letter, talks with Bloomberg’s Betty Liu about the outlook for the equity market.

Gartman also discusses his concerns over sovereign debt in Europe and investment strategy in stocks, gold and currencies.

http://pragcap.com/gartman-this-is-more ... correction

[winston]

Dennis Gartman: The Euro Is ‘Doomed’ by Lara Crigger

Dennis Gartman is the mind behind The Gartman Letter, a daily newsletter discussing global capital markets. For over 20 years, The Gartman Letter has tackled the political, economic and social trends shaping the world's markets, and Gartman himself is a frequent guest on CNBC, Bloomberg and other financial media outlets.

Recently, IndexUniverse Associate Editor Lara Crigger sat down with Gartman to discuss his thoughts on the fate of the euro, including how Greece could doom the dollar, why you should dump dollar-denominated gold and whether inflation or deflation is yet in store.

http://www.indexuniverse.com/sections/f ... l?Itemid=5

[winston]

Dennis Gartman: Long, but Not Too Long By Alix Steel

Dennis Gartman, the economist and author of The Gartman Letter, offers his views on the market in the first of a three-part series. Come back to TheStreet 7 a.m. Thursday morning, to hear Gartman's take on which currency he thinks is doomed.

NEW YORK (TheStreet) -- Dennis Gartman, the economist and author of The Gartman Letter, warns investors not to be aggressive in equities for long.

Global markets have seen strong rallies since the beginning of the year. Year-to-date, the Russell 2000, an index of small-cap names, is up 7.8%, the S&P 500 has risen 3.2%, the Nasdaq has popped 4.1% and the Dow Jones Industrial Average has added 2.1%.

Some more bearish analysts are forecasting a 7% to 10% correction in the coming months, arguing that stocks have run too far, too fast. Recently, I spoke with Gartman to get his view on the global economy, currencies and gold.


TheStreet: Do you think that this bull market we are seeing right now is for real? Or do you see a big correction coming up?

Gartman: Anybody who has tried to be short of stocks since last March gets led to slaughter. And all I can tell people is that even I try to be short [stocks] every once in a while. I get over it very quickly. Why do I get over it? Because as soon as I do it, it costs me money.


You have said before that you don't want to be aggressively long, though. What does that mean?

If you're long, that's one thing. If you're aggressively long, that's another thing. Right now I would characterize my positions as being modestly, sort of tacitly, kinda a little bit, sort of kinda long, sorta maybe.


What does that mean?

It means I'm kinda sort of long but not aggressively so. I'm a hedge fund and I actually think in terms of being a true hedged hedge fund. Most hedge funds are basically long only punters. I'm a hedger. I'm long some things and short other things. I'm long Ford(F), for example, and short Toyota(TM) ... I'm long restaurant stocks and I'm short grains ... Right now I'm just a little bit longer then I am short so on balance I am a little long, I'm not aggressively long.


What sectors are you most bullish on?

Restaurant stocks.


Which precious metal do you like the best?

I like gold not because it's better than any other metal. It's just that it's demonstrably more liquid than any other metal. I don't have the stomach or the stupidity to trade things like platinum, which can move 2% to 3% in the course of a day. That's just something I don't understand and would never be able to trade.


What are you most bearish on?

I'm most bearish on Europe ... I think Europe is in terrible condition and I'm terribly bearish of Japan. I'm rather aggressively short the Japanese yen.


http://www.thestreet.com/story/10705312 ... -long.html