Seriously...
Thanks to The White House saying something de minimus about Tax Reform progress (and a little help from Boeing after Trump's warmongery), Nasdaq was the day's best-performer as The Dow had its best day in 4 months...
Just two weeks after he staked his reputation that "The Bull Market Has Come To An End", "world-renowned" commodity guru Dennis Gartman is getting nervous, and as he writes in his latest daily letter, "weare a bit uneasy this morning being short."
Here is how Gartman is slowly but surely pivoting away from his "red-line" bearish call on stocks:
Well, the "fake news" article that Jeff Gundlach has been quietly - and not so quietly - raging against for weeks on Twitter, is finally out.
Readers will recall that DoubleLine's Jeff Gundlach has been engaging in an odd subtweeting campaign on Twitter over the past month with what until recently had been an unnamed media outlet that was allegedly being used by a similarly unnamed Doubleline competitor to accuse Gundlach's fund of doing poorly and suffering outflows, something the "bond king" has said is "false news" to borrow a Trumpism...
In his first interview shortly after the White House announced that it was parting ways with Trump's chief strategist, Steve Bannon told the Weekly Standard on Friday afternoon that "the Trump presidency that we fought for, and won, is over." After confirming his departure Bannon said that “we still have a huge movement, and we will make something of this Trump presidency. But that presidency is over. It’ll be something else. And there’ll be all kinds of fights, and there’ll be good days and bad days, but that presidency is over.”
Having staked his reputation one week ago that the "bull market has come to an end", the jury is still out on Dennis Gartman's latest forecast, although one thing is becoming clear - the period of record low volatility has come to an abrupt end and the question is whether it now reverts (much) higher, or resumes its drift lower on more vol-selling and expectations that central banks will keep it all under control. And while we wait and see which way risk inflects, in his latest overnight note, the "world-renowned commodity guru" is out with an even more bombastic prognostication: "