Dennis Gartman

The latest quote from Dennis Gartman is: “The Trump Administration is modestly bearish for prices of crude oil, but demonstrably bullish for domestic crude oil production.”. It comes from the Trump's energy policy has bearish side: CNBC survey article. You’ll find on this page 14 articles with Dennis Gartman quoted on topics such as Trump, Russians and price. Dennis Gartman has been quoted 44 times in 14 articles.

Dennis Gartman quotes

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The Trump Administration is modestly bearish for prices of crude oil, but demonstrably bullish for domestic crude oil production.

The first thing one learns in the business of commodities is something that should be fundamentally going down when inventories are extraordinarily high should be pushing crude oil prices down, and they're not. Secondly, I watch what's known as the term structure. What is the front month doing against the second? What is the front month doing against the one year back? Why would I wish to own gold in dollar terms ... when I can use cheaper devaluing currencies – the euro and the yen – to do the same thing?

The incoming president has made it abundantly clear he will focus attention on several areas, infrastructure being primary, defense being secondary and I think … I want to own the things that if I drop them on my foot will hurt: Steel, ball bearings, railroads that sort of thing.

The real movement now is that we will see a movement towards the Mahoney Valley which is where steel was born here in the United States.

The strong dollar is going to continue to be overhead resistance on commodity prices. Clearly that adds to the price of crude oil and that is bearish in the long run.

I've said for a long time that i don't expect oil to get above $52. There are so many people caught on the short side of WTI and that's what you are seeing right now. That will end sometime in the coming weeks.

If you can bet on one thing in this world, bet on a mother's love, and bet on the fact that OPEC cheats. But it will be a month or two before we see that happening.

That's going to be helpful to the suppliers of the production of crude. It's going to be detrimental to the crude's price itself.

I think that we're going to see the dollar become a good deal stronger because of this. I do think that Mr. Trump tends to be somewhat of a trade protectionist. Who's going to be hurt by that? It's going to be the Europeans. It's going to be Germany, that depends so much upon trade exports.

Coal mines will be reopened. New coal production will come on stream. Natural gas ... we will be drilling, drilling, drilling for more.

I think the benefit goes to the gold market because of uncertainty. I think that's going to happen rather consistently.

I think the world was not prepared for Mr. Trump to win this. So money is fleeing to safer havens – it's going to gold, it's going to the Japanese yen.

I voted for Mr. Trump, but I was not happy to have done it. I did it by holding my nose and [pressing the button], but I am fearful of his trade protectionism, I'm fearful of his movement towards trade tariffs around the world and I'm fearful of what this means globally.

I think the first thing you want to do is go to the sidelines, if you're not already there. If you didn't get to the sidelines before the vote, get to it now. If you're long on the fact that the Dow has rallied 300 or 400 points from the lows … use that as an excuse, as a reason to get closer to the sidelines.

It's going to be very difficult to get WTI much below $40.

You probably have to take WTI down now to $40. You need to take it down there to stop ... production facilities here and to stop people from bringing on old wells that had been drilled and capped. At $40, they'll probably stay capped.

I think we take crude down into the low 40s, which is a break in trend lines as the cantango continues to widen.

The only fellow speaking the truth about crude oil was [Igor] Sechin.

I think it's going to be difficult even if they get an agreement to put prices very much higher at all.

Where's crude oil going? On balance it's going lower, not higher.

I find it fascinating that gold has held reasonably well, even tries to rally as the dollar has gotten stronger over the course of the past six or seven days.

Wells that had been drilled, that had been capped in the United States are coming back on stream, and new production, new drilling is going to take us back.

The reality is we're going to be stuck for several years between $35 on the low end, and $55 on the high.

There will be no freeze of any consequence. The contangos continue to widen, which tells you that there is an abundance of supply in the market. As long as the contangos continue to widen, as crude oil bids for storage, prices are going to head lower.

So, the amount of crude oil that's going to come out of the Bakken, out of the Permian, out of Eagle Ford, is just going to be very large.

The Saudis, the Iranians and the Russians have nothing they can say to us to tell us to stop our own production and we won't.

Having been at this for forty years, I always look for anomalies. It's very strange to me that, since June, as went gold so went the bond market.

You don't want to risk much on this trade. I can see gold breaking up to the upside and I can see the bond market breaking down to the downside. You don't need to risk more than one or two percent.

You had a period of about three or four months where they did in fact move in correlation with one and other. On balance over broad periods of time, the correlation is negative. If you did get crude oil [back] down to $35 then something is going on economically that's taking stock prices down. But it's not crude that's weighing upon stock prices, it will be economic activity that's weighing upon stock prices.

I would be hesitant at owning gold in dollar terms.

There has been an aggressive seller of spot gold at 1,270 to 1,285.

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