It’s going to be a ‘skinny’ deal with China: Dennis Gartman


JOINING US RIGHT NOW IS EDITOR AND PUBLISHER, DENNIS GARTMAN. THANKS FOR BEING HERE.>> THANKS FOR HAVING ME. YOU SCRAPED THE BOTTOM OF THE BARREL AND THERE I AM. MARIA: . WHAT? NOT TRUE. HOW ARE YOU INVESTING AND WHAT DO YOU SEE ABOUT THIS CHINA STORY WHICH IS DICTATING HOW YOU ALLOCATE CAPITAL AND LOOK AT THESE MARKETS.>> I HAVE ONLY MY OWN MONEY AT RISK. WHAT I TALK ABOUT IN MY NEWSLETTER I DO. FOR THE FIRST TIME IN A WHILE I’M GETTING MODESTLY — THE OPERATIVE WORD IS MODESTLY NET SHORT. I’M A LITTLE CONCERNED WITH HOW QUICKLY THINGS SOLD OFF ON THE RUMOR, A RUMOR OF THE RUMOR THAT THE SHERPAs WERE NOT ABLE TO REEF AN AGREEMENT AND THERE WOULD BE A DELAY OR EARLY LEAVING BY THE SENIOR CHINESE DELEGATION. THE FACT YOU WERE ABLE TO GIVE UP 400 DOW POINTS IN THE COURSE OF A HALF HOUR, TELLS ME THAT UNDERNEATH THERE’S NOTHING BUT THIN AIR. HAVE YOU TO BE CAREFUL. I KEEP IN MY OWN INDEX CALLED THE INTERNATIONAL INDEX OF THE 10 LARGEST STOCK MARKETS IN THE WORLD, IT MADE ITS HIGH LAST JANUARY, JANUARY 29th OF 2018, WE HAVE NOT COME ANYWHERE CLOSE TO MAKING NEW HIGHS. SO WE’VE BEEN IN AN INTERNATIONAL BEAR MARKET FOR ALMOST A YEAR AND-A-HALF. LET’S BE CAREFUL.>> OKAY. GIVEN THAT DOWNER FOR THE MARKETS, MARKETS THE MARKETS TRADE FIGHTS HAVE BEEN AND THE PRESIDENT FACING POSSIBLE IMPEACHMENT, DO YOU THINK HE NOW GETS A DEAL? IS THERE — IS IT A NECESSITY FOR HIM AND HOW DO THE MARKETS REACT?>>I THINK IT’S A NECESSITY FOR BOTH PRESIDENTS, FOR XI AND FOR TRUMP, TO GET SOME SORT OF A DEAL. IT’S GOING TO BE WHAT’S THE TERM NOW, A SKINNY DEAL, IT WON’T BE A BROAD AND EXPANSIVE DEAL, WE WON’T BE ABLE TO T GET INTELLECTUAL PROPERTY RIGHTS TAKEN CARE OF. WE’LL PROBABLY NOT BE ABLE TO GET INFRASTRUCTURE. WE’LL PROBABLY NOT BE ABLE TO GET A BROADER REPRESENTATION. WE’LL GET SOME SOYBEANS SOLD. WE MIGHT GET CORN SOLD. WILL THERE BE ANYTHING BRAND BRO WILL THERE BE ANYTHING BRAND BRD WILL THERE BE ANYTHING BRAND BRA WILL THERE BE ANYTHING BRAND BRD SPANS I’VE? PROBABLY NOT. WILL THE CHINESE GIVE US PROMISES THEY WON’T KEEP? PROBABLY SO. SADLY, THAT’S THE HISTORY OF THESE SORTS OF AGREEMENTS. IT WILL BE LESS THAN ANYBODY HOPED FOR. PROBABLY HAVE TO WAIT UNTIL OF AFTER THE EX ELECTION TO GET AN OWNS ANNS ANEXPANSIVE TRADE AGREEMENT.>> WHAT PERCENTAGE OF YOUR PORTFOLIO IS IN CASH AND HAVE YOU INCREASED THAT AND WHAT’S YOUR READ ON PRECIOUS METALS.>> I’VE BEEN BULLISH OF GOLD FOR QUITE OF PERIOD OF TIME. I’D LIKE TO SEE GOLD GET ABOVE 1520. GOLD IS PROBABLY 30 OR 340% OF WHAT I — 40% OF WHAT I OWN. I’M QUICK TO TAKE LOSSES, QUICK TO GET OUT IF SOMEBODY TURNS AGAINST ME. AS FAR AS CASH IS CONCERNED, THE REST OF MY STUFF IS IN BONDS, CORPORATE DEBT AND I HEDGE IT WITH DERIVATIVES. SO ACTUALLY IF YOU WANT TO SAY CASH, I’M PROBABLY 100% CASH BECAUSE I’M NOT — I’M EQUALLY NET LONG AND NET SHORT NET EXPOSURE TO THE STOCK MARKET IS MINIMAL AT BEST. MARIA: WE’RE HEADING INTO THE THIRD QUARTER EARNINGS REPORTING SEASON, IS THERE ANYTHING IN THE CHARTS THAT YOU SEE THAT INDICATE PERFORMANCE AHEAD?>>?>?I KNOW YOU LOOK AT TECHNICAL IN TERMS OF CHARTS.>> YEAH, I LOOK AT TECHNICALS RATHER SUBSTANTIVELY. IT BOTHERS ME THAT IF YOU LOOK AT THE DOW, THE S&P, IF YOU LOOK AT THE RUSSELL 5000 OR WHATEVER, ALMOST WHATEVER INDEX YOU LOOK AT, YOU’RE GETTING WHAT THE TECHNICIANS CALL A HEAD AND SHOULDERS TOP WHICH IS FORMED OVER THE COURSE OF THE PAST SEVERAL MONTHS. AS I SAID EARLIER, THE FACT THAT MY INTERNATIONAL INDEX REFUSED TO MAKE A NEW HIGH SINCE JANUARY OF 2018 TELLS ME THE INTERNALS ARE STARTING TO TURN DOWN. I WATCH THE CNN, I HATE TO PUT IN A PLUG FOR ANOTHER NETWORK BUT THE CNN GREEN INDEX IS A GOOD INDEX FOR THE AVERAGE AMERICAN TO TAKE A LOOK AT. IT HAS BEEN MAKING CONSISTENTLY LOWER HIGHS AND LOWER LOWS AND IT’S TURNING QUITE BEARISH. I THINK ONE SHOULD BE CAREFUL. PROS CAN BE QUIETLY MODESTLY JUST A TAD NET SHORT. THE AVERAGE INVESTOR SHOULD BE — IT’S STILL A BULL MARKET FOR HIM. HE SHOULD LESS LONG THAN HE’S BEEN HOWEVER. FOR THE PROS, BEING SHORT IS NOT S SUCH A BAD IDEA. I’M SHORT MARGINALLY. THIS IS MY OWN MONEY AT RISK. DAGEN: IT’S. HAVE YOU DAVE YOU DAGE YOU DAGENYOU DAGEN MU DAGEN McDOWELL.HAVE YOU DONE WOR DAGEN McDOWELL.HAVE YOU DONE WOK DAGEN McDOWELL.HAVE YOU DONE WOO DAGEN McDOWELL.HAVE YOU DONE WON DAGEN McDOWELL.HAVE YOU DONE WOM DAGEN McDOWELL.HAVE YOU DONE WOR DAGEN McDOWELL.HAVE YOU DONE WOE DAGEN McDOWELL.HAVE YOU DONE WOT REACTION TO IMPEACHMENT PROCEEDINGS?>>I LIVED THROUGH TWO. DAGEN: THAT’S WHY I ASKED YOU, MY FRIEND.>> IT’S NOT PRETTY. WHAT HAPPENED DURING THE NIXON IMPEACHMENT WAS TERRIBLE. THE DOW FELL FROM 1 YOU THOUSAND 6 1,006 TO 474OVER THE ENTIRE IMPA 1,006 TO 474OVER THE ENTIRE IMPH 1,006 TO 474OVER THE ENTIRE IMPE 1,006 TO 474OVER THE ENTIRE IMPT PROCEEDINGS. DURING THE CLINTON IMPEACHMENT, THE MARKET ACTUALLY DIDN’T DO VERY BADLY AT ALL BUT I CONTINUE TO REMEMBER HOW LONG IT DRAGGED OUT IN THE NIXON AFFAIR. THIS SEEMS MORE LIKE THE NIXON AFFAIR THAN IT DOES THE CLINTON AFFAIR. SO QUITE HONESTLY, THERE’S NOTHING GOOD THAT COMES OUT OF IT. THE BEST YOU CAN SAY IS THINGS WON’T GET BAD. THE BORES THE WORES THE WORST YOU COULD SAY IS THINGS COULD GET TERRIBLE. MARIA: ANY THOUGHTS ON THE FED CUTTING RATES IN A WEEK AND-A-HALF OR TWO WEEKS AND WHAT ABOUT THE EARNINGS PERIOD? WHAT ARE YOU EXPECTING?>>IF I WERE A VOTER ON THE FED, I WOULD PROBABLY VOTE NOT TO CUT RATES. I THINK HOWEVER, THAT THERE’S PROBABLY GOING TO BE A SLIGHT MAJORITY FOR CUTTING RATES. CERTAINLY WE’LL PROBABLY GET A 125 255 25 BASIS POINT CUT BEFORE THE END OF THE YEAR. THE QUESTION IS WILL WE GET 25 NEXT WEEK AND IN DECEMBER. MARIA: WE GOT MEETING MINUTES. IT SHOWED INVESTORS ARE EXPECTING A RATE CUT. THERE’S REAL DIVISION WITHIN THE FED.>> AND I DON’T MIND THAT. I DON’T MIND HAVING THE FED ARGUING ONE WITH THE OTHER. THAT DOESN’T BOTHER ME MUCH AT ALL. BUT THE FACT WAS, THERE IS A GREAT DEAL OF DESCENSION. THE BEIGE BOOK WAS INCONSEQUENTIAL. THE MINUTES WERE INCONSEQUENTIAL. I’M NOT — I DON’T FIND IT DETRIMENTAL TO FIND DIVISIONS WITHIN THE FOMC. I RATHER LIKE IT. IT SHOWS WE HAVE INDIVIDUALS LOOKING AT THEIR OWN DATA AND MAKING A DECISION AND I THINK THAT THE FED CHAIRMAN WILL DO A FINE JOB OF KEEPING — FINDING SOME SORT OF CONSENSUS. DO I THINK THEY’LL END UP CUTTING RATES? YES, I DO. 25 BASIS POINTS.

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100 thoughts on “It’s going to be a ‘skinny’ deal with China: Dennis Gartman

  1. Guy says normal investor should be long, professional investor should be short, and he with his own money is short. Think about it, they think we are just total idiots.

  2. The Chinese are going to make fake lies about Biden So Trump is making a deal with China to get fake information!! WTF

  3. If dems do not wake up and start acting like Americans they will have a whole country oif Patriots to deal with those traitors. They need to support our president and not work against Americans.

  4. watch: Harvested Alive then buy any Chinese product and support this….. or start buying from countries with human rights and freedoms, and support and promote them??? its a choice

  5. Fox news is crapp news! Learn the law morons there has to be a crime for impeachment and a vote. There are neither. So do this country a favor and report facts not hypothetical speculation.

  6. To: gartman, the bear market decline during Nixon impeachment was due more to America's disgraceful withdrawal from the Vietnam war , shoutout, thank you all veterans

  7. Time to shut China out 100%, and send all the millions of Chinese that California left come thru Long Beach Port Back to China on leaky boats.

  8. China has been busy flooding America with opium and other drugs for decades with the blessings of crooked politicians under their control. Was Epstein working with the Clintons and other Chinese agents to set up a blackmail racket and money laundering enterprise? When will Fox Business start reporting the truth about the Fed?

  9. China is holding out to see if a Communist comrade from the Luciferian party gets elected. They sure wasted 1.5 billion dollars when they purchased Biden.

  10. China is already killing us in a stealth war using drugs, and is behaving the way they always have with business malpractices and a lack of mutual respect, so we should just accept it and crank up the pressure… let China collapse under its own weight and over extension.

  11. BE CAREFUL WITH CHINA, CAPITALIST BY CONVENIENCE BUT COMMUNIST BY CONVICTION.
    THE UE AND LATIN AMERICA SURRENDERED TO THE CHINESE BOOT. THE US democrat-SOCIALIST PARTY,
    ULTIMATE WISH, IS EXACTLY THAT —TO FORCE AMERICANS TO WORSHIP THE COMMUNIST REGIME!

  12. Is it true Maria used to work down the fish market she must of got that voice from somewhere shouting and screaming over the people she's ment to serve

  13. Great deal or no deal, period. Over $100 billion from tariffs on Chinese goods is much better than $20 billion worth of soybean sales. After reimbursing our farmers, we still have over $80 billion left to spend. By contrast, China had nothing. Regarding Trump impeachment, good luck!

  14. Dear TV People, I am watching these TV battles and question myself; how come that left propaganda runs people's mind and spin it the way they want? I found out that in reality
    republican media works along with propaganda media. Every time, you guys, pronounce the I- word, you doing a great favor to democrats helping them to develop their agenda against Donald
    J.Trump. The key of their success over republican media in this; you are echoing after them their most important key-word, while they, (propaganda media,) never return the favor. Simply,
    they NEVER come down to discuss republican thoughts. Also, you scare to call events by real names, a COUP, instead of "impeachment"and say it out loud so, every American can hear it.

  15. “Not anywhere close to being nuked” 1:17 . Yes he corrects it. But now why would that be a word in his mind that just floating around in there.

  16. As an investor/trader, at this point, any kind of a deal is a good deal. I don't expect a final deal. But I do think some kind of interim deal will happen.

  17. China is a kleptocracy. If the civilized world considered all debts to China paid in full, due to their intellectual property theft and cybercrime; their whole country would collapse.

  18. Why do Americans do business with dictators? Do Americans encourage authoritarian regime? Or is it just the money we ever care about?

  19. Shouldn't do a deal with PRC. It should be annexed by the Republic of China first, in which case a new deal won't be necessary.

  20. Why is Fox News saying possible impeachment of President Trump? The House of Representatives has not even voted on impeachment? Is Fox News fake news?

  21. The market should do fine with respect to impeachment nobody in their right mind believes it will happen or even come close.
    Trump 2020♾

  22. We get a skinny deal thanks to empty democrat impeachment inquiry. Democrats are party over the people and do nothing for minorities unless you are illegally here…

  23. Go big or go home
    bye bye china come back when your ready to deal with an American President,. If not keep your china junk and sell it elsewhere

  24. Daily joke:

    Mr.Morey will stand with Hong Kong rioters until Houston built the subway.( Hong Kong rioters fire on subway ,but there's no subway to burn in Houston.XD)

  25. Thank. I enjoyed the program today. I started a YouTube channel about flea markets & Garage sale buys in Pennsylvania

  26. There is no real impeachment. The House must VOTE to actually move forward. They refuse to vote because it won't be in their favor. (Pelosi/Shirt)

  27. If we TRUST GOD the Biblical Creator God is whom I’m referring too… then OUR Nation AMERICA have NOTHING to FEAR…..do your own biblical history research….. just saying

  28. Hello…..was warned, US companies to get out of China, and then recently to get out of Chiness stocks…….so what if the dow is down? Nothing to do with fake empeachment !!!

  29. Does anyone think that President Trump is going to let the Chinese make promises and not keep them? He already hiked trade taxes for Germany and France if im not mistaken….Why wouldn't he hold China accountable like he has other countries?

  30. Chinese are holding off trade deals till 2020 election results. If Democrats win its back to robbing America. If Trump gets in they are GONNA PAY BIG. FOR HOLD OUT. Piglosi and her butt kissers have gone behind the President to negotiate with China.

  31. The dems just can’t stand the idea of America getting anywhere while Trump is at the helm. We could get so much done if the democrats just did there jobs.

  32. The smart money is still on a " No Deal" deal with the clever Chinese and the idiot Trump. China has been aware of Trump and his different scams since the beginning of Trump's unwise threats, tariffs, bans and sanctions. They are all very negative actions that have worked to prevent a deal, but only failure.

  33. Typical American Businessman…..only thing that matters is “trade agreements”….to hell with the slave labor in China, to hell with Hong Kong….. to hell with organ harvesting……great strategic thinking!!!!!

  34. Obvious CNN Shill…..yeah I'm SURE he hates putting in plugs for them……and he wants to NOT have the Fed cut our rates……..CLEARLY this man is Anti-Trump and is worried more about his overseas investments than his American. Pure gargage…..Fox can do BETTER!!!! KAG!!!!!!!!!!!!!!!!!!!!!!!

  35. If the chinese give in to Trump, it means that they think that President Trump will win in 2020.,,Which we ,Americans, already know.

  36. President Xi JinPing is now visiting India. I do not think that China is very interested with a trade deal with USA. China will increase its purchase of soybeans and pork and corn because it needs them pending the increase in supply from Brazil and Russia, at which time, China will switch its purchases from USA to Brazil and Russia. But certainly the Chinese Government will not change its way of governing the country or its development policies. If the US politicians, think tanks and media feel good that they have won, let it be. This is freedom of speech and freedom of thinking. Once Deng Xiaoping said that it was glorious for the Chinese to be rich for they would then live better. On the other hand, a prominent US politician once implied that it was glorious for the Americans to be stupid for they would then feel that they were free. Let Daryl Morrey and Silver acts and makes stupid comments for they and their fellow countrymen think that they have freedom of speech.

  37. Even If we get a slim deal I think the markets will tank on Monday. The only way to get the markets not to tank is to eliminate new tariffs, reduce all tariffs to a maximum of 10% except for Aluminum and Steel. This will bring stability to supply chains and the markets! China needs to stop forced ownership and the transfer of IP as well pattern infringement all together and lets not forget purchase some more agriculture.

  38. This guy is nuts if he thinks is gonna be a trade deal below expectations sign and after the election another one, FOOL, better read the art of the deal, and why make a below expectations deal, when tariffs are bringing billions, low expectations better be better than billions on tariffs or no deal

  39. Getting Really sick of the Negative…other side people… getting MORE AND MORE ON FOX. TELL THEM TO STATE FACTS …. NOT SPEW THEIR CNN VALUES LIKE COCKY PROS OF NOTHING. All fox programming

  40. Trump can get more 2nd term. The dems will continue to bash Trump with their illegal impeachment/coup that will continue until the election.

  41. China is not going to do nothing until after the election. Why would they. if they gave in to Trump and he loses the election, they lose Because they know they can make a better deal for themselves if the Dems win. they know the dems always try to buy there way out of problems. if they wait and Trump is reelected they can work out something with him.

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