By Tyler Durden
Just two weeks after he staked his reputation that “The Bull Market Has Come To An End”, “world-renowned” commodity guru Dennis Gartman is getting nervous, and as he writes in his latest daily letter, “we
are a bit uneasy this morning being short.”
Here is how Gartman is slowly but surely pivoting away from his “red-line” bearish call on stocks:
STOCKS HAVE RISEN A BIT SINCE YESTERDAY with our International Index having gained a marginal 19 points, with stocks in Asia moving sharply higher while stocks in Europe were weak. However, the markets in Asia are responding to what we perceive to be the best speech given yet by Mr. Trump last evening in which he made clear that the US will not stand down from its obligations abroad.
Heretofore, President Trump… influenced of course by the manifestly anti-globalist philosophies of Mr. Bannon… seemed intent upon reducing the US position of global authority, but last evening that philosophy was abandoned, and with that the Asia stock markets and the US stock index futures turned briskly higher.
Also, we note that the Fear & Greed Index here in the US made its way toward and below the all-important 20 level, having …read more