Red Flags From Two Market Mavens

Investing.com - jeffrey Gundlach and Dennis Gartman are worried about the stock market.One month after calling February's market swoon the "start of a substantive bear market,' Gartman says its time to "hold cash" and "sell rallies" in stocks.In the latest edition of his newsletter, Gartman said the stock market has reached "a major, multi-year top" and will suffer as central banks end years of monetary stimulus. Meanwhile, Gundlach, CEO of DoubleLine Capital, reiterated his prediction that if the yield on the 10-year T reasury note makes "an accelerated move" above 3%, stocks will decline in 2018, in what could be the end of the nine-year bull market. In his latest webcast, Gundlach said he has a strong conviction about that scenario because of the potential for an outbreak of inflation.The yield on the 10-year note touched a four-year high of 2.95% in mid-February but has since drifted down to the 2.80% level.