Thursday, October 31, 2013

Dennis Gartman eyes a new gold trade - NEWS.GNOM.ES

Ongoing quantitative easing from the Fed is making a few trades attractive, the commodities trader says.

Ongoing quantitative easing won’t be great for the U.S. dollar but will make a few other trades attractive. “As long as the Fed remains accommodative on into 2014 and I think they will remain all the way through 2014—that’s probably not supportive to the dollar,” he said. “It’s probably supportive to the bond market. It’s probably supportive to the gold market. And it’s probably supportive to stock prices.”

On CNBC’s “Fast Money,” the editor and publisher of The Gartman Letter, who continues to be long gold in yen terms, said that he was now looking at another trade.

“I’m actually interested in buying gold now in euro terms,” he said. “I’m interested. I’m not doing it yet. But I have a fascination with what’s going on there.”

Gartman also said that this week’s Federal Open Market Committee meeting would be uneventful. “It’s probably going to be probably the most boring FOMC meeting of the year,” he said, noting that it does not make monetary policy changes without holding a news conference. “It’s going to be a very boring session.”

Wednesday, October 30, 2013

Dennis Gartman: Oil will drop 15 percent

Whats going in with oil in the U.S., with Dennis Gartman of The Gartman Letter. The U.S. "is becoming a dominant force" by being the world's largest producer of crude oil. He thinks oil will drop 15 percent.


Tuesday, October 29, 2013

Fed will not alter QE policy

Dennis Gartman said no scheduled Bernanke press conference after this week’s meeting is yet another reason why officials are not likely to alter policy.

Thursday, October 24, 2013

Dennis Gartman on the recent political drama

Even though Gartman is a republican, he does have a few words for the party.

"Let's hope the adults have come back to the room. Let's hope we banished the children to the smaller table. This was really quite embarrassing to all of us."

Monday, October 21, 2013

Damage from debt ceiling debacle to US investments

"Will foreign investors continue to move money to foreign investment? The answer to that is resoundingly yes. I suspect the damage had been severe and probably permanent."

Tuesday, October 15, 2013

US GOLD Comex slumps as debt talks advance

The gold chart looks “horrid” and is set to worsen during New York trade, Dennis Gartman, editor of the Gartman Letter, said.

“This is Friday, and Fridays have tended in recent weeks and months to be days when the long-standing bulls finally chose to give up and when the bears choose again to show their strength. It may not be pretty,”

Sunday, October 13, 2013

Sit tight and wait

“We need to understand that as this lunacy continues the job of the Federal Reserve Bank is made more and more difficult for there shall be less and less proper data collected by the government on the state of the US economy, and it is upon this data that the Fed’s decisions on monetary policy are based,” Gartman said.

“In this instance, the policy decision shall be: 'When in doubt, opt out.' That is, when in doubt, do nothing; sit tight and wait for further information and instructions,”

Sunday, October 6, 2013

Government shut down deflationary impact

The government shutdown is being viewed by some as a deflationary force in the world's largest economy. This is negative for gold as it is often purchased as a hedge against inflation.

"The economy seems weaker. With the closing of the government, and problems going on in Washington, that's a deflationary impact, and that weighs upon the gold market. If you could get strength in the economy you might actually get a bid to the gold market. Factors that could spark a fresh rally in gold include renewed tensions in the Middle East or the Federal Reserve becoming more accommodative than it has been."