Dennis Gartman ETFs Terminated, Back to Peddling Newsletter
We took a sober look at the Horizons AlphaPro Gartman ETFs last year, and as of March 22, they were no more.
Dennis Gartman is one of the worst offenders of the Chicken Little sales pitch. And once again, investors learned the hard way that having an opinion about the market is not the same as making money.
On February 7, he announced on CNBC:
“Yes, today I changed my opinion on stocks. I had been relentlessly bullish since last October. I continued to be bullish in November. I continued to be bullish in December. I bought the gap up in January,” he said. “And after yesterday’s movement, it had very little to do with what the Fed had to say because markets were moving way before the market moved down. The copper market was speaking to me. Sequestration was speaking to me. And at the end of the day, we had reversals in all the indices.”
On February 26, he stated:
Asked what would bring him back into the stock market, Gartman remained noncommittal.
“Probably nothing for a while, at any rate,” he said, adding that if stocks traded sideways for a month, “you might convince me to come back.”
“It’ll be price action that’ll bring me back into the market,” he said.
And all this time, his long-suffering Canadian ETF investors begged for less talk, more action.
Too late now. Let’s hope they don’t plow it all into Bitcoin.