If history serves us correctly, Dennis Gartman has made some pretty spectacular calls this past year or two. One was: "Crude Oil will never trade back above $44 'in my lifetime "
Since then Gartman has been making other predictions. Statements like, "I'm long of the Gold in terms of Norwegian synthetic Krone" comes to mind. Although he never said that, you get the idea reading one of his newsletters- Soren K.
Even the MSM media, which loathes to go out on a limb, got involved. "Is Dennis Gartman The Best Contrarian Indicator For Oil Prices?"- Yahoo, Benzinga, and a slew of others.
And it's not just Oil. As Zerohedge likes to gleefully point out he's almost always good for a day trade.
But what about Yellen?
In his newsletter today, he basically said that Yellen doesn't even know what she will do tomorrow. Which clearly implies Yellen knows exactly what she'll do. Obfuscation is an art, and she was taught by the master and predecessor, Courageous Ben Bernanke.
As to his comment below that the Fed is data driven, that is contraindicated by Fed behavior. The only thing the fed is looking at is keeping stock and bond prices afloat while it slowly debases its currency/debt. Unemployment, GDP and other data are not a focus. How can they be when you have negative rates in bonds?
Here's an idea... Hey, ECB, I'll borrow a Trillion Euros from you and you can pay me less to borrow than your EU banks are getting. DEAL?--Data driven my ass.
Quotes below from Gartman's newsletter today:
“What shall Dr. Yellen say? Quite honestly we’ve no idea, and we suspect that at this point neither does she,”
“Being data-driven, each new bit of economic news sways our thoughts on what the Fed shall do and we suspect that Dr. Yellen’s thoughts are swayed in the same manner,”
End Quote
There you have it. Gartman is bearish on Yellen's cognitive skills. Right now Goldman is creating a 3x ETF tied to Yellen's IQ. You all know what to do- Soren K.
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