Bears have been frustrated, and I am among them, that bear markets are allowed to go no longer than one, maybe one-and-a-half, days. This week brought another example. Monday was a market holiday, but on Tuesday, we had a nice tumble. The fall was continuing overnight, but our old pal Dennis “the commodity king” Gartman decided to go bearish on crude, and, well, the result was predictable.
I honestly think unless this guy will STFU, we’re never going to get a chance for a serious downtrend, because every time we get a nice, meaty down day, he rushes out to say he’s “bearish” on whatever it is.
I’m dumb, but I wasn’t so dumb at to hold on as I would have if Gartman had said nothing. When I saw the above on my Twitter feed, I started moving fast, and I made no secret of it:
Anyway, I gave back a little bit of profit from Tuesday, but, meh, that’s OK. I’m still very excited about the prospects Q3 is going to provide the bears, if only Mr. Very Very Slightly Bearish in Dong Terms would shut the hell up.