Gartman: The Bubble Has Burst!

Tuesday, 29 Apr 2008 | 6:36 PM ET

Time to sort through the Fast Money in-box and answer more of your questions. Although we usually share e-mail from our viewers, Dennis Gartman a regular guest sent a message that we want to share as well.

Dennis Gartman

Strategic investor Dennis Gartman, author of the Gartman Letter writes, “Dylan the bubble has burst, at least for the next several months in the commodities. First it was wheat, then gold and today energy and soon it shall be the poster child rice. I’m short Deere (DE) as my way of getting short of “ag”- related stuff and at the same time long of tech. One can see the movement of money away from ag in into tech. It was a tidal wave and there is more to come."

Interesting commentary, replies Pete Najarian. I still like nat gas. But soft commodities could well pull back.



Daryn writes, "If the Fed comes out with a very hawkish stand on interest rates where do you think oil will go in the next 2 months and which stocks would be the most vulnerable?"

If the Fed raises rates unexpectedly I think the market would go down, oil would go down and the dollar would go up substantially, replies Karen Finerman.



According to Boone Pickens, there is a great upside in natural gas. Would you invest in equities or the commodity?

You might want to look at Chesapeake , replies Pete Najarian with a stop at $46. I like it better than the United States Natural Gas Fund ETF .

Fast Messages
The Fast Money guys answer your stock questions.

For me the nat gas play is Apache and XTO Energy , adds Guy Adami.

Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send your e-mail to fastmoney@cnbc.com.

Trader disclosure: On Apr. 29, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (INTC), (ATVI), (MSFT), (DIS); Najarian Owns (AAPL), (TSO), (YHOO), (XLF);Najarian Owns (CHK) Calls, (MSFT) Calls, (POT) Calls; Finerman's Firm Owns (GE); Finerman's Firm And Finerman Own (FLS); Finerman's Firm Owns (MO), (MSFT), (PM), (TSO) (VLO); Finerman's Firm Is Short (GLD), (IYR), (MDY), (IWM), (RTY), (SPY), (COF), (SPG); Finerman's Firm Owns A Bullish Call Spread In (YHOO) And Owns (YHOO) Stock; Finerman's Firm Is Short The British Pound; NBC Universal Is The Parent Company Of CNBC; GE Is The Parent Company Of CNBC

  Price   Change %Change


Contact Fast Money

  • Showtimes

    Halftime Report - Weekdays 12p ET
    Fast Money - Weekdays 5p ET
  • Melissa Lee is the host of CNBC's “Fast Money” and “Options Action.”

  • Scott Wapner is host of the "Fast Money Halftime Report," which airs weekdays from 12 p.m. to 1 p.m. ET.

  • Guy Adami is a contributor on CNBC's "Fast Money." He also is managing director of stockMONSTER.com.

  • Najarian, the "Pit Boss," is cofounder of optionMONSTER.com, a news site for options traders.

  • Finerman is president of Metropolitan Capital Advisors, Inc., a company she co-founded.

  • Founder of EmergingMoney.com

  • Chief Market Strategist for Virtus Investment Partners & CNBC Contributor

Halftime Report