Gold Investors Should 'Rush to the Exits': Dennis Gartman

Investors should get out of gold immediately as the metal reaches a technical top and is due for a pullback, says Dennis Gartman, hedge fund manager and author of The Gartman Letter.

In his daily note to clients, Gartman advises them to "rush to the exits" as gold [US@GC.1 1192.6 -21.7001 (-1.79%) ] prepares to retreat from a series of historic dollar highs.

While the move out may only last for the short term, he says the metal has "gone parabolic" and should be sold.

"(W)e are traders here, not investors, and traders listen to and watch the market, looking for signs of a changing environment," Gartman writes. "The environment has been changing; violence and volatility are everywhere. We want out. The sidelines look inviting." (more)