"We've No Choice But To Run For Cover": Gartman Covers His 10Y Short

One week after Gartman was officially stopped out of his 10Y short position, as the yield on the 10Y TSY tumbled far below his 2.92% stop when the latest Italian crisis hit last week (incidentally, for the second time, the first took place just after the April Payrolls report on May 4, but let's pretend that never happened), the world-renowned commodity guru has finally acknowledged he busted on his latest letter to clients writes that "we’ll mince no words here: the bond market go away from us last week and the week before and so with the material weakness of the past four trading sessions we’ve no choice but to mitigate the damage wrought and run for cover!

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