Dennis Gartman Gets Liquid, and Warms up to Equities

Dennis Gartman has been on the right side of many trades over the past year, and is keeping his streak alive, largely sidestepping the recent selloff in commodities by going to cash. His longer-term thesis, that we are in a secular bull market in most commodities, is intact but the volatility is stomach churning for even grizzled commodity trading veterans.

Gartman notes the selloff in in gold and oil has "ripped people faces off", and too much hot money poured into commodities. Although, he notes, the grain markets are in a world of their own after being roiled by floods in the midwestern U.S.

And for the first time since Eric Bolling introduced Gartman'to the world at large via his Fast Money appearances, the long time commodity guru thinks stocks might be the place to be, and gave Bloomberg TV his two cents in an interview this morning.

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