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News Link • Economy - International

Gartman: "A Global Bear Market Of Some Very Real Consequence Is Developing"

•, by Tyler Durden

Alas, as so often happens, it didn't turn out quite as expected, and as the world-renowned commodity guru writes in his note today, half of his bond holdings are now history":

In our retirement account, we did take some action yesterday given the weakness in the US bond market following the surprisingly stout ADP report and we sold about half of our bond position right on the opening, and swapped that bond position for a position once again in the shares of the US largest producer of ball bearings… the ultimate stock of a company that produces "the things that if dropped on your foot shall hurt," for what is more central to economic growth than ball bearings? We bought a correction and our risk is only to the lows of last week. We still retain other bond and/or bond like positions and we are still long of gold.