If you follow charts, money-flows, and ways to play macro-trends, you probably know who Dennis Gartman is. We know that you know who Warren Buffett is, and Gartman’s call as a short selling candidate is none other than Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B).
On a segment right before 1:00 PM EST today on CNBC’s Power Lunch, Mr. Gartman noted briefly how Berkshire Hathaway was something that could be sold. He said it has been a short and betting against Buffett has been a win.
We looked at a chart from StockCharts.com, and this stock is definitely an ugly duckling. In the last few days it has failed its 50-day moving average (currently $90,784.82). It is also about $10,000 higher than today’s price. We heard Mr. Gartman being “short of Berkshire” last month.
On a simple chart, there does not appear to be any major simple support lines under $88,000 until about $85,000.
Jon C. Ogg
June 18, 2009