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Nothing like a little quality time with strategic investors Dennis Gartman. Find out how he’s trading retail and gold!
Retail
In retail, Gartman is gaming the same trend that Jeff Macke and retail analyst Howard Davidowtiz have been telling you about for a while. That is, people are going downscale. In other words Neiman Marcus loses sales to Nordstrom. Nordstrom loses sales to Macy's. Macy's loses sales to Target and so on.
What’s the trade?
“I’d get long Family Dollar [FDO
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] and short Simon Properties [SPG
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] against it,” says Gartman. It keeps working and I’m going to stay with it until it doesn’t.
Gold
There doesn’t seem to be much panic in gold [US@GC.1
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], Gartman tells the traders. "I think it’s more likely it goes higher than lower. And I’d play the miners rather than the spot price of gold."
On Friday’s show Jon Najarian said much the same. As you might remember he told us, “the spread of the GDX [GDX
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] under the GLD [GLD
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] suggest a better opportunity in the miners. I believe miners will play catch up to the spot price of gold and the higher that spot goes, the greater the profits will be for the miners.”
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Trader disclosure: On Feb. 23rd, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders Najarian Owns (GE) Puts; Najarian Owns (GDX) & (GDX) Short Calls; Najarian Owns (HPQ) Calls; Najarian Owns (MSFT) & (MSFT) Short Calls; Najarian Owns (MS) & (MS) Short Calls; Najarian Owns (X) Put Spread; Najarian Owns (WFC) & (WFC) Calls; Seymour Owns (AA), (BAC), (EEM), (FXI); Seymour Is Short (NUE); Seymour's Firm Owns (PCU); Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Finerman's Firm Owns (WFC) Preferred; Finerman's Firm Owns (MSFT), (RIG); Finerman's Firm Is Short (IYR), (IJR), (MDX), (SPY), (BBT), (VNO)
Gartman Owns (FDO); Gartman Is Short (SPG)
Data is a real-time snapshot *Data is delayed at least 15 minutes