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