by DantesPeak » Sat 07 Jun 2008, 11:34:36
$this->bbcode_second_pass_quote('JohnDenver', 'N')either Mr. Gartman nor myself stated that the commodity correction would occur on Thursday.
It's still on the way. I'll be sure to keep you posted.
The timing was pretty amusing though, have to admit. Wow! Up $16 in two days, on no fundamentals whatsoever. Just goes to show how out of control the greed wallow has gotten in the NYMEX pigsty. Keep up the good work. The more blatant the greed, the quicker we can pass the necessary legislation to string up the profiteers.
Well actually JD - you are wrong about Gartman.
He went on to say on CNBC Thursday morning, with oil at $122, that the price was headed lower. In fact, he specifically stated that it could drop 20% to 30% from there.
Hey I can say that oil will have a big correction someday too - and I will mostly be right.
But if it goes to $200 first, I will look pretty damn stupid.
It's already over, now it's just a matter of adjusting.