What a crummy day for your beleaguered host!
The core problem, of course, was my idiotic refusal to accept the reality that if Gartman had turned bearish on crude oil, then the downturn was completely through. My portfolio is fairly heavily influenced by crude oil (in spite of me having no position in it directly), so the benefit that crude’s weakness had been giving me in recent days was totally ruined today. It was ugly.
Even worse, though, was what happened with small caps (to which likewise my portfolio is inversely correlated). Let’s take a glance at today’s action:




