‘I Hate to Say’ Selling Going to Continue: Gartman

U.S. stock futures and oil prices were tanking again Thursday morning, and closely followed market watcher Dennis Gartman said he believes the selling is going to persist.

“I don’t think there’s too much selling at all. I think there’s going to be even more selling going on,” the founder and publisher of “The Gartman Letter” told CNBC’s “Worldwide Exchange” Thursday. “Sovereign funds are in the process of liquidating. They have no choice.”

In early trading, Dow futures were off more than 300 points at one stage, U.S. crude was falling more than 3 percent to under $27 per barrel, the 10-year Treasury yield was dipping to around 1.569 percent, and the dollar was down more than 1 percent against the Japanese yen.


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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.