Gartman: We Won't See $44 Oil In My Lifetime

On CNBC's Fast Money, Dennis Gartman spoke about crude oil and the correlation with the equity market.

He thinks that the correlation between crude oil and stocks is not going to last for a long period of time. At this point he doesn't want to be short crude oil and he believes that there is a possibility that it has bottomed. Gartman added that he doesn't want to be long crude oil either. He expects it to stabilize around $37, but he doesn't see it back above $44 in his lifetime.

Gartman is relatively bearish on the stock market. He doesn't expect a dramatic decline, but he has a small short position at the moment.