Veteran strategist Dennis Gartman says it’s still a bear market with no Fed pivot in sight

MarketWatch/Steve Goldstein/8-8-2022

“I must admit that the rally has been a little more exuberant than I had thought. I was a little surprised by the response on Friday. Maybe it’s just a rally in a bear market, which I think is what it is, but I have to admit I have been somewhat taken aback by the fact the market has remained as strong as it has, given the fact that the yield curve is inverted and will continue to invert even more.” – Dennis Gartman

USAGOLD note: Sometimes he’s right. Sometimes he’s wrong. But he is always controversial. As head of University of Akron’s endowment fund, he moved money out of stocks and into gold earlier this year. “I like things,” he says, “that if I dropped them on my foot, it will hurt.”

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