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Analyst, Dennis Gartman, has a great commodities research product, but unfortunately he has succumbed to being held hostage by CNBC's "Fast Money" community for short term trading calls . This of course, has led him to making some pretty bad trading calls. He is an analyst, not a trader. This is no market for analysts to be trading. Maybe the Mets should get their 2nd baseman to start pitching, but I doubt that works for them either.

I'll continue to push being long cash and gold, until the "Fast Money" is washed out of the game. This note is not meant to embarrass Gartman, it's simply to hold him accountable.

Gold (via the GLD etf) was +1.2% today and the S&P 500 was down -1%. Being long Gold on a day like today is called alpha. Being long the market is called beta (Gartman is in print with something called a "watershed" call of being bullish on stocks). Being levered long the market is called a really bad idea.
KM

(chart courtesy of stockcharts.com)