Friday, January 29, 2010

Gartman: Dollar Rise May Trigger Big Stock Drop

With the dollar’s strength increasing, investors should be wary of the market correcting itself, says Dennis Gartman, founder of The Gartman Letter.

Stocks could easily tank, he said.

“You should be aware of the fact that a correction is probably setting in (and) that this could be a bit more than a two or three percent correction, that perhaps something along the lines of five to ten percent is upon us, and I think you need to be very, very careful," Gartman told CNBC.

Investors expecting more good news to arise from the earnings season will likely be disappointed, he said. (more)

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