Ed Note: Money Taks is honored to have Dennis Gartman explain his trading technique at:
The Money Talks All Star Trading Super Summit
Saturday, October 24, 2009 -The Sheraton Vancouver Wall Centre
Click HERE for the Speaker Lineup and to REGISTER if you want to take advantage of this Event.
THE US DOLLAR HAS TRIED TO
RALLY but the major trend remains toward a weak US$ and until such time as it
is clear that the 50, 100 and even the 200 day moving averages for the dollar are turning higher… and clearly they are not… we have to view every period of strength in the dollar as ephemeral in nature and an opportunity to sell it rather than to be a buyer.
The only… and indeed the major… problem with that stance is that far too many
others believe the same thing, having been conditioned to do so by the dollar’s long, protracted slide over the course of the past several years, through both the Bush and the Obama Administration, and most notably since the inauguration of Mr. Obama that ended a short, violent but pleasant period of pro-American and pro-US dollar feelings.
This brief comment from the Legendary Trader Dennis Gartman. For subscription information for the 5 page plus Daily Gartman Letter L.C. contact – Tel: 757 238 9346 Fax: 757 238 9546 or E-mail:email@example.com HERE to subscribe at his website.
Mr. Gartman has been in the markets since August of 1974, upon finishing his graduate work from the North Carolina State University. He was an economist for Cotton, Inc. in the early 1970’s analyzing cotton supply/demand in the US textile industry. From there he went to NCNB in Charlotte, N. Carolina where he traded foreign exchange and money market instruments. In 1977, Mr. Gartman became the Chief Financial Futures Analyst for A.G. Becker & Company in Chicago, Illinois. Mr. Gartman was an independent member of the Chicago Board of Trade until 1985, trading in treasury bond, treasury note and GNMA futures contracts. In 1985, Mr. Gartman moved to Virginia to run the futures brokerage operation for the Virginia National Bank, and in 1987 Mr. Gartman began producing The Gartman Letter on a full time basis and continues to do so to this day.
Mr. Gartman has lectured on capital market creation to central banks and finance ministries around the world, and has taught classes for the Federal Reserve Bank’s School for Bank Examiners on derivatives since the early 1990’s. Mr. Gartman makes speeches on global economic and political concerns around the world.