Gartman has done it again.
Yesterday, on CNBC the world-renowned commodities guru predicted that Hurricane Harvey would be a mostly a non-event, saying that he "doubts Harvey gets much past a Category 1 hurricane", and that "this is going to be a short-term event."
The storm "could be very serious. My guess is that it shan't be," he said...
http://player.cnbc.com/p/gZWlPC/cnbc_global
... to which our response was simply "bye Texas":
Gartman "I doubt Harvey gets much past a Category 1 hurricane"
Bye Texas
— zerohedge (@zerohedge) August 24, 2017
24 hours later the Gartman curse has hit again, because with Hurricane Harvey barreling toward Corpus Christi, and just hours away from landfall, moments ago the NHC said that it upgraded Harvey to a Category 4 (out of 5) hurricane with maximum sustained winds of 130 mph
NEW: #Harvey continues to intensify and is now a category 4 #hurricane with maximum sustained winds of 130 mph. https://t.co/tW4KeGdBFb pic.twitter.com/7CkJkuafTb
— NHC Atlantic Ops (@NHC_Atlantic) August 25, 2017
Forecasters are labeling it a “life-threatening storm.” The storm quickly grew Thursday from a tropical depression into a Category 1 hurricane, and then developed into a Category 2 storm early Friday. By Friday afternoon, it had become a Category 3 storm before strengthening to a Category 4. It’s forecast to make landfall in Texas late Friday or early Saturday.
The storm is 45 miles (72 kilometers) east of Corpus Christi.
Here is the latest update from the NHC on the hurricane which is now so powerful, the damage across the coastline and energy infrastructure will likely be in the tens of billions:
Hurricane Harvey Tropical Cyclone UpdateNWS National Hurricane Center Miami FL AL092017600 PM CDT Fri Aug 25 2017
...6 PM CDT POSITION AND INTENSITY UPDATE......HARVEY BECOMES A CATEGORY FOUR HURRICANE......SUSTAINED HURRICANE-FORCE WINDS SPREADING ONTO THE MIDDLE TEXAS COAST...
Air Force Reserve Reconnaissance aircraft data indicate that Harvey has become a category 4 hurricane with maximum sustained winds of 130 mph (215 km/h).
A station at Aransas Pass run by the Texas Coastal Observing Network recently reported a sustained wind of 74 mph (119 km/h) with a gust to 96 mph (154 km/h).
SUMMARY OF 600 PM CDT...2300 UTC...INFORMATION----------------------------------------------LOCATION...27.7N 96.7WABOUT 45 MI...70 KM E OF CORPUS CHRISTI TEXASABOUT 50 MI...85 KM SSW OF PORT OCONNOR TEXASMAXIMUM SUSTAINED WINDS...130 MPH...215 KM/HPRESENT MOVEMENT...NW OR 325 DEGREES AT 8 MPH...13 KM/HMINIMUM CENTRAL PRESSURE...941 MB...27.79 INCHES