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
http://www.cnbc.com/id/15840232?video=760686450
Wednesday, June 4, 2008
Gartman - Commodity bubble bursting!?
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