US stocks 'only place to go' amid Brexit uncertainty, Dennis Gartman says

Gartman on sidelines ahead of Brexit

Closely followed market watcher Dennis Gartman said Tuesday the U.S. stock market is the "only place to go," with all the uncertainty surrounding Thursday's "very close" U.K. vote on whether to stay or leave the European Union.

The Brexit referendum could come down to "hundreds of votes," the founder and publisher of The Gartman Letter told CNBC's "Squawk Box." The vote will come down to which side can get their supporters to show up at polls, he added.

The stay camp has been regaining lost ground in recent days, and the U.S. stock market has been encouraged. Though the latest YouGov poll shows the leave camp with a slight lead, 44 percent to 42 percent.

With the Brexit confusion, Gartman considers U.S. stocks "TINA," an acronym for "there is no alternative."

"All you can do here in the United States, given the low level of interest rates, is go to the equities market," he said. "Money has to go somewhere. It's finding its way to the equities market first and foremost."

Gartman also said remaining on the sidelines is a "wonderful place to be."

Meanwhile, billionaire George Soros warned in an op-ed that a Brexit would trigger a big sell-off in the pound. "A vote to leave could see the week end with a Black Friday, and serious consequences for ordinary people," Soros wrote in The Guardian.

Gartman told CNBC Tuesday he won't be wading into the U.K. currency this week. "I'm normally watching and trading the British pound sterling. But I'll let someone else do that this week. That's a bet I prefer not making."