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One Day After Biggest Rally Since March, Gartman Covers Shorts

Tuesday, November 8, 2016 14:58
% of readers think this story is Fact. Add your two cents. / by Tyler Durden / Nov 8, 2016 11:44 AM

Just hours after the biggest one-day surge in the S&P since March, Dennis Gartman has decided to follow the momentum, and after being bearish and short, he “covered in a great portion of our short  derivatives position and we added to our long position.”

From his latest letter:

STOCK PRICES HAVE SOARED IN THE PAST TWENTY FOUR HOURS as the news spread around the world from late Sunday afternoon regarding the now famous “letter” from the FBI’s Director, Mr. Comey, to the members of the US Congress that there was nothing in the several tens of thousands of new e-mails that the Bureau had warned about two weeks ago that would lead to the possible indictment of Ms. Clinton. When that news “hit” Sunday afternoon, stock index futures soared; the Asian markets flew to the upside and when the European and North American markets finally did open they followed suit.


The post One Day After Biggest Rally Since March, Gartman Covers Shorts appeared first on Silver For The People.


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