The bull market will continue, according to perma-bear Dennis Gartman, editor and publisher of The Gartman Letter, admitting that his initial “slightly net-short” call was wrong.

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“I had the bond market right, the dollar right… gold right… the foreign exchange markets correct — I even had crude oil correct, but I embarrassed myself in the stock market,” Gartman told Stuart Varney on “Varney & Co.”

Stocks rallied Monday, boosted by the decline in Treasury yields, and were on track for a third day of gains. Even with his mea culpa, Gartman still maintains some skepticism around the recent rebound in the stock market.

“The only thing that bothers me about the market is that the rallies occur on lesser volume. The breaks occur on larger volume—that’s not how good markets should act,” he added.

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