Gold bull is dead, says Gartman

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Calling the death of gold’s bull run, and the beginning of a gold bear market, with Dennis Gartman, The Gartman Letter. He said in latest newsletter: “We have the beginnings of a real bear market, and the death of a bull … So much damage has been done to the psychology of the market in the past week and so many late longs caught off guard that forced liquidation shall be the outcome.”

Source: CNBC, December 14, 2011.

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2 comments to Gold bull is dead, says Gartman

  • [...] post? If so, click here to subscribe to updates to Investment Postcards from Cape Town by e-mail. Gold bull is dead, says Gartman was first posted on December 18, 2011 at 5:30 am.©2011 “Investment Postcards from Cape [...]

  • Dante

    Sentiment seems oversold??

    The gold bugs are throwing in the towel
    MarketWatch

    Two weeks ago, when I last wrote in this space about a contrarian analysis of gold sentiment, this average stood at 13.7%.

    Today it stands at 0.3%, which means that the average gold timer is essentially keeping all of his gold-oriented portfolio out of the market.

    To be sure, I reported two weeks ago that, on the basis of the HGNSI being as low as 13.7%, contrarian analysis was already bullish on gold’s prospects. And yet, far from rallying, the yellow metal since then has fallen by more than $100 per ounce. Read Nov. 30 column.

    http://finance.yahoo.com/news/gold-bugs-throwing-towel-050138449.html

    Rgold Is Golden: Sit Tight And Be Right (Or Add To Your Positions)
    http://truthingold.blogspot.com/2011/12/this-is-my-favorite-time-of-year-and-im.html#comment-form

    And his prognostications are useful?

    “His closed end fund (HAG in Canada) is down almost 19% since inception
    in 2009, and he caught a bunch of the gold move. If he was as good as
    Bubblevision thinks, he probably would have better numbers.”
    SEE…
    Horizons Gartman ETF is an exchange traded fund established in Canada. The Fund seeks capital appreciation through exposure to the investment strategies of The Gartman Letter, L.C. The Fund will invest in a variety of portfolio securities and instruments which may include, but are not limited to, equity securities, futures contracts and exchange-traded funds.

    http://www.bloomberg.com/apps/quote?ticker=HAG:CN

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