Wednesday, June 4, 2008

Gartman - Commodity bubble bursting!?

Dennis Gartman, of the Gartman Letter, thinks the CFTC will change the definition of “hedger”, which could send oil 25% to 40% lower "very quickly". Gartman would be very careful about being outright long commodities.

Gartman also thinks that Bernanke's "dollar support" will bring commodity prices down.

"We are facing a tidal wave of selling,'' Virginia-based Gartman wrote in his daily newsletter today. Even agriculture prices "may come under pressure following Dr. Bernanke's dollar support.''

click for video about LEH and Commis

video: Commodities Rapid Fire
A look at commodities and discussing Lehman Brothers' financial troubles, with Dennis Gartman, The Gartman Letter founder

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