Dennis Gartman: No Reason To Be In Equities

If you’re looking for some sage advice from an esteemed pro who’s been in the business for years, look no further.

We caught up with strategic investors Dennis Gartman, author of the Gartman Letter, and asked him for tips as you attempt to navigate markets during the historically terrible months of September and October.

Gartman is never at a loss for words, but this time around he had some unusually strong strong opinions. In a nutshell– stay away.

”History doesn’t always repeat itself but it seems to often rhyme,” he says, "and September and October are characteristically bad times to own stock."

Even if you want to be in the market, Gartman advocates the sidelines -- for now. ”If you must buy stocks I’d wait until late October,” he counsels, "just be patient.”

”There will be a time to own things in the future,” he adds, “but the time to buy is not now.”






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Trader disclosure: On Sep 6 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Seymour owns (AAPL); Seymour owns (BAC); Finerman and Finerman’s firm own (AAPL); Finerman owns (BAC) and Finerman’s firm own (BAC) leaps; Finerman owns (JPM) and Finerman’s firm owns (JPM) stock and (JPM) leaps; Adami Owns (AGU); Adami Owns (C); Adami Owns (GS); Adami Owns (INTC); Adami Owns (MSFT); Adami Owns (NUE); Adami Owns (BTU)

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