Dennis Gartman Gets Out of Stocks
Citing various concerns including the Dow Theory divergence exhibited between the transports and Dow Jones Industrials, Dennis Gartman, editor and publisher of The Gartman Letter, told CNBC’s Michelle Caruso-Cabrera he’s “flat” on the stock market (see video below).
Gartman has been converted from bullish on stocks to now just neutral.
Gartman also expressed concerns about China and big expectations surrounding another round of Quantitative Easing (QE).
Gartman started an ETF a few years ago that trades on the Toronto exchange; the Horizons Gartman Alphapro ETF (HAG.TO). It has had a rough go of it over the past year as seen in a chart comparing it to the S&P 500 below: