Tuesday, July 8, 2014

Gartman calls for mild correction in markets

There are times when its wiser to be a bit moderate in ones approach and I think this is that time. I don't think you are going to get much of a correction, I don't think it will be much at all. This is a time to be net-neutral. Its time to be less long. 

Its more of a psychology call. I'm a little concerned that we got a little buoyant on the upside. Markets do get a bit ahead of themselves and that's all we gotten here. I saw some numbers, I was amused and interested in the fact, how much money was made in the first 4 or 5 days of the month and seasonally how bad things tend to get from middle of July to September on a historical basis. 

There are a number of things that made me say "probably a good time to go on the sidelines."

Watch the full interview below 

via http://www.cnbc.com/id/101817271