Dennis Gartman: Stay In Cash And Short-Term Bonds

Bear market alert! On CNBC's Europe Squawk Box this morning, Dennis Gartman, founder of the Gartman Letter, said:
"this is the start of a bear market and it could last for several more months I'm afraid."

"I'm afraid that this might be the very beginnings of a bear market that could last for some period of time. I think that it's going to be more than a mere 7 to 10 percent correction."

"You stay in cash and you stay in short-term bonds, and you don't move out."

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