Many will call tops along the way. Gartman is a technician and a very good monday morning quaterback. Always seeming to have made the right call after the fact and after he changes what he says that he owns.
He and others like him are short term, short sighted individuals. Many will not see the inflation storm upon them until it is too late. Gold and silver are not going up because of speculation, they are going up because they are predicting inflation, maybe massive inflation in the marketplace. They are bellweathers to events that are about to unfold.
Stay out of the day trade business, you can't predict on a daily, weekly, or even quarterly basis which way the stock market will head. You can rest assured based on what has occured that inflation will hit in the next 1-4 years. Be prepared, don't be scared out. You will be glad you did.
"Stay out of the day trade business, you can't predict on a daily, weekly, or even quarterly basis which way the stock market will head. You can rest assured based on what has occured that inflation will hit in the next 1-4 years. Be prepared, don't be scared out. You will be glad you did."
You are exactly right. Gartman is trying to justify a ridiculously high subscription fee by pretending to be able to call very short term moves in a highly volatile market (i.e. precious metals). Sometimes he gets lucky but most often not. Even giving him credit for having a slightly higher batting average than the norm, it remains a fool's game. The one big mistake is to get shaken out of your position in the inevitable corrections. When the facts change it will be time to quietly exit gold and silver. Fools announcing that it's a bubble whose time to pop has come are obliged to explain exactly why that is. After 10 years this bull market in precious metals requires more than just a feeling that maybe things have gone too far. It demands a reason why it would reverse and head down in anything more than just another garden variety correction which invites smart money in to add to the position not to bail on it. When the government and the Fed state that the value of the dollar is sacrosanct and it will no longer be used as a pressure relief valve to try to manage a 13 trillion dollar economy (futilely) then it will be time to dump gold in favor of paper money. Don't hold your breath although I think one day it will come.
With QE2 now a certainty, the metals, and all other commodities, have only one direction to go. If Gartman want's to raise concern over a $10 to $15 swing intraday that's fine, but by January his warning will be only a memory as the metals plow new ground pulled by Bernanke bred plow horses.
I'd like to see a pullback of some magnitude, but I really don't count it as a very likely possibility.
you comment on history applies to any asset.
But trend is in a long term bull market.
It is very easy to outperform Gartman because he is a terrible investor.
He has some many bad calls for so call expert on gold.
Gold up 420 percent last 10 years.
and the fundamentals are even now stronger.
Lower production, increasing demand, increase devalution of currency.
90 percent more people in the world can now own gold compare to the last bull market in 1970's. and the population is much bigger.
Such nonsense--his argument-- gold is loser--thus--you should invest "only 5%" of your cash.
If something is a truly judged a "loser" it merits --NONE OF YOUR CASH.
In any event,this message board is re silver--which will be buoyed up by the production uses of the metal AND its value in replacing a soft currency with hard asset.
I agree with ya re: Gartmen, I thought he was a contrary indicator, but I disagree with you re: Silver having its own 'staying' power. Historically, Sliver has pretty much followed Gold. As a matter of fact, its been following it at a lower multiple. It should be around a 16/1 ratio, right now it takes 60 ounces of Silver to equal 1 of gold. So its WAY out of whack, on the DOWN side. It should be a lot higher, but its not. GL