"We Erred Bearishly Of Equities": Gartman Turns Bullish..." https://www.zerohedge.com/news/2018-04-30/we-erred-bearishly-equities-gartman-turns-bullish If you've followed him you know he's a high-profile name with his newsletter... But lately he's been "beaten like a rented mule" in the markets.... equities, oil, you name it.... one wrong trade after another... and unfortunately printed for all to see. Been mocked repeatedly and in "front page" fashion. Yet... He hasn't lost much... he's "tried, been stopped out" repeatedly... without destroying his capital. No better example to follow the discipline... GO FOR THE GAINS, BUT TRADE WITH STOPS! Live to fight another day when wrong. FWIW....
is this the permabear that called 22 of the last 3 markets? him going bull would scare the fuk out of me! Sell EVERYTHING and leave before the Mongolians show up to kill everyone and burn everything!!!
Don't be such an ass... you don't even know of him... yet you mock! Shame on you. He's been long and short the markets he trades. He does not appear to be "perma" anything.
Lots of guys who are "smart" have patches of "getting it wrong". That's because the market is more of a 50-50 proposition than most trader wannabes want to believe. The lesson isn't about being right or wrong....it's about "trading with stops so that when you are wrong you don't get killed".
Lol, i was seriously asking the question. If his marlet calls have not been particularly accurate, no better than those of an average Joe, i would simply put the same amount of belief in one of his calls that i do in a call by the average Joe.
That's kind of been the case lately. The REAL lesson here... is that the market is more of a 50-50 proposition than you'd like to believe... regardless of who (or you) is making the call....so, you'd better trade with stops. (I have a tennis/drinking buddy who's also a trader. We once compared notes on "losing streaks". We're both "smart enough" guys... I graduated Suma Cum Laude in Science, he graduated in mathematics from an Ivy League school... his mommie paid for his, I paid for mine...that's a different story.... but I once had a losing streak of 9 trades. He says he once had a losing streak of 14.... can you imagine how aggravating it is... or how much of your capital you could lose... to be wrong that many times in a row... especially if you think you're smart?) Nobody... NO MATTER HOW SMART YOU ARE OR THINK YOU ARE... is immune from the vagaries of the market. The market finds a way of "testing your mettle". Therefore, trade with stops.
i hear you Scat. I'm wondering why the perma-bear decided to go bullish all of a sudden. Its almost like he woke up and thought, "you know, always being a bear, when the market is in bull mode 75%+ of the time, is losing me clients/students/subscriptions/whatever. better switch it up to be more in line with market most of time to reduce my number of bad calls." also curious, didnt he make one of his bear market calls just 2 or 3 months ago? sure seems to be flipping over soon!!!
You're not paying close enough attention to offer a valued perspective. He's been long/short on much shorter times than you mention. Wrong nonetheless, but not like you describe.
So then what is the point of Gartman putting out a market letter and, more to the point, anyone subscribing to it? Apart from his needing to generate subscription fees and subscribers needing to follow someone? Speaking of patches, anyone remember this one? http://www.businessinsider.com/dennis-gartman-is-a-horrible-investor-2009-12 Of course, there are countless examples over the years of Wrong-Way Gartman judiciously exercising those protective stops. Guy's a genius. Subscribe today.