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2014-04-08

Vändpunkten äntligen här? Neråt i New York i fredags.

För den som i decennier har varnat för börskrasch kanske vad som hände i fredags i New York kan vara ett nytt hopp?

Dennis Gartman basically got freaked out by 15 minutes on the markets Friday.  In that short space of time, he said the market turned like he’d never seen it turn before.



Friday was quite a day, with heavy selling of biotech and Internet stocks, pushing the Nasdaq Composite COMP  to its worst day in two months. The S&P 500 SPX  and Dow industrials DJIA  also dropped 1.3% and 1%, respectively, that day.

“Friday morning I came back from the gym, and I was very comfortable: I owned aluminum, I owned coal, I owned money-center banks. Then between 11 a.m. and 11:15 a.m. it was as if they flipped the switch. Everything changed: stocks changed, bonds changed, gold changed, currency changed — the whole world switched,” recalled Gartman.

Dennis Gartman, who edits the Gartman Letter, told CNBC in an interview late Monday he recently ‘got scared’ and moved his equity exposure to near zero from 100%. He said he’s sticking with gold and cash to ride out the “long-awaited and much-needed correction.”

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