Gartman Letter...commentary

In our commentary last Thursday we posited the notion

that the S&P futures could make their way downward

toward 1370. Quoting ourselves, we said that as the

minor “

trend to the upside has been broken and it is

reasonable to assume that we shall see the S&P

make its way down toward 1370 or so to test the

validity of the long term bullish trend. It may be there

sooner than one wants to believe possible.”

In

retrospect that now appears to have been prescient,

although we are more than willing to ascribe it to luck.

We, however, are more than willing to take luck and run

with it.



Dennis Gartman