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Stocks Risk Falling Another 10% as Rates Rise, Gartman Says

  • Says he’s ‘flat’ on market after stopped out of long positions
  • Notes margin use declining, warns investors to ‘be careful’
Dennis Gartman

Dennis Gartman

Photographer: Peter Foley/Bloomberg

Dennis Gartman is moving away from stocks and investors may want to take note that if anything, his bearishness is getting stronger.

“I got stopped out of a lot of long positions on Thursday and Friday of last week,” the chairman of the University of Akron Endowment told Bloomberg Radio on Monday. “I’m happy to be basically as flat as I’ve been in a long period of time.” Stopped out refers to the execution of a stop-loss order.