Dennis Gartman, who’s almost always wrong, says you should “go to the sidelines” when it comes to stocks.
What does “go to the sidelines” mean? If you have an investment portfolio, does “go to the sidelines” mean, liquidate your stocks and stay in cash?
Does it mean just sit there and do nothing? Hold your stocks, just don’t buy? And if so, does that mean the market will just mark time here?
Does “go to the sidelines” mean that stocks are going down and if so, then why doesn’t he just say, “sell?”
He says go to the sidelines because it’s another wimpy, gutless way of saying, “I don’t know what’s going to happen.” He’s pretending to make a call, without making a call.
No guts, no glory.
Go to the sidelines = useless information
7 comments:
I think DG is a typical futures trader, who are either long, short or "on the sidelines". Not to defend him. His fund certainly hasn't performed very well since inception (symbol HAG on the TSX).
This level of pessimism doesn't present itself very often. I see so many things on sale that my heart races and I'm as giddy as a kid in a candy store. I wish the media hype machine would keep the fear going for another week or two, but I suspect these calls from Gartman and his ilk signal the end of the down trend is near.
The richest man in the world, Carlos Slim of Mexico, is seeing "big opportunity" in Europe now. He's buying.
I take it that "go to the sidelines" means increase portfolio liquidity (cash position) by decreasing the % of other holdings either for safety in anticipation of market opportunities that have in the making.
:Going to the sidelines" makes sense in terms of single portfolios but not in aggregate because to close out a position someone else has to take it.
I'm buying in Spain now but very carefully (adding small positions while it falls). I can see the IBEX going easily an additional 20% down from here to 2013.
SPX is in pre-crash mode if it still plays around these levels next trading sessions. In any case, I pretty much doubt we are gonna see new highs (1360-70 at much, but levels have been lost, very difficult to get a bounce now).
all it takes is an announcement from the EU/ECB to send the market roaring, but there's no political will to do so- yet. As Mike has said before, I dont see the EU bureaucrats putting themselves out of a job by allowing the euro to disintegrate. It's all timing at this point.
Marshall Auerback reports at NEP:
http://neweconomicperspectives.org/2012/05/another-one-bites-the-dust.html#more-2412
These morons seem to be over their heads... perhaps keep waiting???
Resp,
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