#1 – The Golden Bear
Amid a global sell-off where should you put your money? Find out as we take the temperature of this irritable market.
Strategic investor Dennis Gartman, author of The Gartman Letter, joins the panel for this conversation. Following is a synopsis of his main points.
What do you anticipate in the morning?
I think it's going to be ugly Wednesday morning just because Apple (AAPL) missed Q2 expectations. Don't expect a pretty day, replies Gartman. I’m net short, just a tad.
Are we near the end of the bear market?
No. Since October each low has been lower and each high has been lower in the major indexes, he replies. Bear markets rarely end with “V” bottoms. Bear markets tend to end after you have a “V”, then you go down and check the bottom again and then lethargy sets in. I suspect this one will end the same way.
How do you trade it?
I’m long agriculture and gold, explains Gartman. Also I’m thinking about owning Potash (POT) and I will continue to own wheat, corn and soybeans. And I’m a seller of high tech and probably steel.