Pinnacle Activity Ticker
As I have said many times before I make plenty of mistakes. I am calling out Gartman because he said just three weeks ago and I quote.....
"Since the early autumn here in the Northern Hemisphere gold has failed to make a new high,” Gartman wrote. “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.”
After he made that quote he has been backtracking ever since via TV appearances, and now today he said the following:
"The bear run that began in August has now officially ended, for the string of lower lows and lower highs is over,” he said in his Gartman Letter. “This does not help us in hoping for/expecting/indeed demanding some weakness into which to buy, but it does give us “permission” to become officially bullish once again.”
Right from the start this call reeked of Gartman talking his book, rather than trying to make a non-biased observation. We all talk our books to a certain extent, but this one got under my skin more than most as he was backtracking right from the start. This isn't the first time Gartman has done something like this, and it won't be the last in my humble opinion.