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Halftime—Dennis Gartman: 'Eventually, the Euro Breaks Apart'

Faced with "almost terminal problems," Dennis Gartman on Monday said the euro could soon unravel.

"Eventually, the euro breaks apart into a northern euro and a southern euro," said Gartman, explaining that the Continent's many languages, religions and cultures are too diverse for the singular currency to work.

Gartman said he thinks Europe's debt troubles won't stop with Ireland's bailout and mounting concerns in Spain and Portugal. He thinks it's a "rolling contagion from one country to the next," which will likely claim Belgium next.

Being as he thinks Europe's problems are long-term, he would sell any rallies in the euro.

With more than 30 years of experience as a currency and commodities trader, Gartman is a "Fast Money" contributor and publisher of the widely read "The Gartman Letter."

Watch the video to see the full conversation with Gartman.

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CALL TO THE FLOOR: GSI COMMERCE

GSI Commerce , which powers Web sites for TOYS R US and Ralph Lauren, broke an order processing record on Black Friday, according to UBS.

So far, Cyber Monday is shaping up to be "very strong," said GSI Commerce founder and CEO Michael Rubin. That's a good sign, especially since Cyber Monday has historically been the company's biggest day of the year.

Rubin thinks strong sales will translate into continued growth on the top and bottom line. Analysts like this company, but investors sometimes struggle with it, being as they'd like it to make more money in the near-term. He said the company is working on making the business more profitable year-after-year, but is also concentrating on making smart investments to bolster the company's long-term success.

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"If you really look at the business as a long-term opportunity, I think you'll see there's enormous opportunity that we're capturing," he said.

What's the Trade?

Zachary Karabell of RiverTwice Research is in GSIC for the long-term. He said he's happy the company is spending money to expand.

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CALL THE CLOSE

Brian Kelly, founder of Kanundrum Capital, thinks the market could go lower Monday.

Pete Najarian, co-founder of optionMONSTER.com, expects the market to bounce. He recommends being cautious, as the VIX is right around the 200-day moving average at $23.

Steve Grasso of Stuart Frankel is a seller of the market.

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Trader disclosure: On November 29, 2010, following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Najarian Owns (YHOO); Najarian Owns (MS); Najarian Owns (BAC); Najarian Owns (F) Bonds; Najarian Owns (DOW); Najarian Owns (NTRS); Najarian Owns (CRUS); Najarian Owns (GDXJ) call spread; Najarian Owns (FIRE); Karabell Owns (GOOG), (AAPL), (IBM), (C); Grasso Owns (ASTM), (BA), (BAC), (BWC), (C), (CSCO), (JPM), (LPX), (MOT), (MHY), (NDAQ), (PFE), (PRST), (X)

For Brian Kelly
Accounts Managed By Kanundrum Capital Own (TIP)
Accounts Managed By Kanundrum Capital Own (MCP)
Accounts Managed By Kanundrum Capital Own (REE)
Accounts Managed By Kanundrum Capital Own (POT)
Accounts Managed By Kanundrum Capital Own (IEF)

For Zach Karabell:
River Twice Capital Owns (GS)
River Twice Capital Owns (MSFT)
River Twice Capital Owns (IBM)
River Twice Capital Owns (SBUX)
River Twice Capital Owns (GSIC)
River Twice Capital Is Short (SPY)
River Twice Capital Is Short (QQQQ)
River Twice Capital Is Short (XLF)

For Steve Grasso:
(ANF) Is A Holding In A Fund Owned By Grasso
Stuart Frankel & Co and it’s partners own (AAPL)
Stuart Frankel & Co and it’s partners own (CSCO)
Stuart Frankel & Co and it’s partners own (CUBA)
Stuart Frankel & Co and it’s partners own (GERN)
Stuart Frankel & Co and it’s partners own (HSPO)
Stuart Frankel & Co and it’s partners own (NWS.A)
Stuart Frankel & Co and it’s partners own (NYX)
Stuart Frankel & Co and it’s partners own (PDE)
Stuart Frankel & Co and it’s partners own (PFE)
Stuart Frankel & Co and it’s partners own (PRST)
Stuart Frankel & Co and it’s partners own (RDC)
Stuart Frankel & Co and it’s partners own (TLM)
Stuart Frankel & Co and it’s partners own (XRX)
Stuart Frankel & Co and it’s partners own (SDS)
Stuart Frankel & Co And Its Partners Own (UNM)
Stuart Frankel & Co and it’s partners are short (QQQQ)
Stuart Frankel & Co and it’s partners are short (MCD)
Stuart Frankel & Co and it’s partners are short (AAPL)

For Dennis Gartman
Funds Managed By Dennis Gartman Are Short Euro
Funds Managed By Dennis Gartman Are Long Gold
Funds Managed By Dennis Gartman Are Long Australian Dollar
Funds Managed By Dennis Gartman Are Short Wheat
Funds Managed By Dennis Gartman Are Long Corn, Soybeans
Funds Managed By Dennis Gartman Are Long U.S. Dollar

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