Wednesday, December 14, 2011

Gartman calls gold bull dead—BUT is it really?

Apologies to the Great Dennis Gartman

- Market trading technicals have been severely tested across all financial instruments

-Marauding trader groups (hedge funds, investment banks, deep pockets of the world's ruling-owner elite) are pushing for capitulation in every corner seeking to unhinge and unseat what remains of independent and weaker investors and traders.

-Short attacks are common place with the dark pools doing much of the 'painting' and Miss&Dis-information distribution masters manipulating the markets and media. IMO
BUT after all is said and done today what has actually changed fundamentally with the picture:

1. The world's finances are an utter disaster
2. Fiat currency valuations are purely fear driven
3. Banks have been adding gold at fast rate

To underscore the point—here is the three year weekly chart for gold... notice anything?

I see no trend breakage do you? Maybe Gartman is a trader so his short hairs might be in the grasp of today's great market painters— =\

So IMO Dennis wrong period. Unless you want to trade this market. This is big mistake IMO. What do you think?


Death of Gold Bull Market Seen by Gartman

By Nicholas Larkin


“Since the early autumn here in the Northern Hemisphere gold has failed to make a new high. . . . Each high has been progressively lower than the previous high, and now we’ve confirmation that the new interim low is lower than the previous low. We have the beginnings of a real bear market, and the death of a bull.”

believing that "...
wholesale liquidation, and perhaps forced liquidation, shall be the outcome.”

Read the full article here

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