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Gold (GLD, IAU) bulls may take comfort as Dennis Gartman jumps on the bearish bandwagon, calling...

Gold (GLD, IAU) bulls may take comfort as Dennis Gartman jumps on the bearish bandwagon, calling the metal an "aging athlete" and "a broken commodity." The man who loved "stuff that hurts when you drop it on your foot" 2 years ago says the price is headed to $1K if $1.2K support is broken. HSBC's James Steel disagrees, seeing strong physical demand lifting the price to $1.6K in H2 and $2K in the longer term.
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Comments (9)
  • Joe2922
    , contributor
    Comments (421) | Send Message
     
    Funny...Dennis is a legend only in his own mind
    18 Jun 2013, 07:32 AM Reply Like
  • coindog
    , contributor
    Comments (633) | Send Message
     
    they love to have him on financial TV too even if his track record is no better than the average joe.
    18 Jun 2013, 08:13 AM Reply Like
  • Doug Eberhardt
    , contributor
    Comments (3020) | Send Message
     
    Dennis Gartman readily admits he is wrong 80% of the time. We should trust him.
    18 Jun 2013, 08:32 AM Reply Like
  • Joe2922
    , contributor
    Comments (421) | Send Message
     
    Dennis charges a fortune for his newsletter, I took a trial a few years ago, just standard TA, trend-following, and all the commentary about fundamentals gave no help at all. Whatever he says or writes he can exit the trade minutes after he gives it. He must do fairly well with his commodities trades to be able to charge so much for a newsletter.
    That said, Tom McCllelan's free weekly last week showed short interest by gold commercials is very low now, so gold is due for at least a short term bounce right now.
    18 Jun 2013, 12:17 PM Reply Like
  • DeepValueLover
    , contributor
    Comments (8692) | Send Message
     
    Serious questions:

     

    Why does Gartman get so much play?

     

    What about his track record suggests that he is someone to listen to?
    18 Jun 2013, 08:40 AM Reply Like
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    he is always after the trend.....he buys the day after it goes up..and sells the day after it drops....always on the right side of the trade...so he says...
    18 Jun 2013, 08:44 AM Reply Like
  • danmart
    , contributor
    Comments (4) | Send Message
     
    Gartman recently said that he was buying gold with yens, totally stupid since even if gold goes up the yen's heading down
    18 Jun 2013, 09:27 AM Reply Like
  • Joe2922
    , contributor
    Comments (421) | Send Message
     
    Not true, gold/yen don't move that way, and gold is not traded in yen.
    18 Jun 2013, 12:19 PM Reply Like
  • Uncle Pie
    , contributor
    Comments (3133) | Send Message
     
    After the fall, experts are lining up to tell us that gold is going to $1000. Where were these experts when gold was $1800?
    18 Jun 2013, 10:53 AM Reply Like
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