Dennis Gartman of the very highly regarded “The Gartman Letter” believes gold is set to enter a bear market, and I am starting to agree. According to Gartman:
“Since the early autumn here in the Northern Hemisphere gold has failed to make a new high… Each high has been progressively lower than the previous high, and now we’ve confirmation that the new interim low is lower than the previous low. We have the beginnings of a real bear market, and the death of a bull.”
I’ll be watching gold closely over the next couple weeks for a good entry point to get short. Specifically, if gold has any significant move to the upside I’ll use that as my margin of safety to bet against it. I’ll likely take the following position to bet against gold… click here to continue reading.
