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THIS is your best trading strategy: Dennis Gartman

Closely-followed investor Dennis Gartman has given CNBC his best trading strategies, with the chances of a December rate hike by the U.S. Federal Reserve looking more and more like a flip of the coin.

Gartman, editor and publisher of The Gartman Letter, has repeatedly turned cautious on stocks this year, with several sharp drops for U.S. benchmarks. Nonetheless, he reiterated his belief that we are "still in a bull market" for equities until the "trend lines are broken."

"Those who continue to try to sell it short find themselves scrambling almost all the time," he said Friday.

Dennis Gartman
Adam Jeffery | CNBC
Dennis Gartman

"You can write this down, it's a bull market until it stops.They'll continue to go higher until they stop, until the trend lines are broken, and they haven't been."

He noted that a steep drop for stocks during the summer was enough to show that equities were oversold and that they would soon rebound and reach even higher levels than before.

He had also been a firm believer of having exposure to gold. Traditionally gold is priced in the U.S. dollar which has appreciated this year with anticipations of a rate hike. This has consequently weighed on the price of bullion. However, Gartman has been an advocate of funding his gold holdings with the Japanese yen, which has fallen over the last few years with the easy monetary policy implemented by the Bank of Japan.

"Gold, however, funded in euros or gold funded in yen has been a wonderful winning position," Gartman added.

After six years of stocks pushing higher analysts and traders have been contemplating hefty valuations this year. Some are much less bullish than Gartman. Lindsey Group analyst Peter Boockvar told CNBC Thursday that he believed stocks had entered a "bear market months ago."

He said that recent gains were just a "bear market rally" and called it a "mega-cap bounce."

Meanwhile, Gartman explained that the U.S. economy is still moving forward at a "sluggish, slow pace" and predicted that there was a 50-50 chance that Fed policymakers would opt to hike rates at its December meeting.

Investors are awaiting the U.S. nonfarm payrolls data for October, due later on Friday. If the data shows a strong increase in employment it could add further fuel to hints from the Fed's chair earlier this week that the bank could increase interest rates in December.

According to a Reuters survey, nonfarm payrolls likely increased 180,000 in October, well above the average gain of 139,000 jobs for August and September.

"Really after all the smoke clears, what does it matter? We'll get a 25 basis point increase sometime and they'll (the Fed) probably stop for a long time after that before they raise them again," Gartman said.