Fast Money

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Fast Money

Bullion, Black Gold and Bouncin' Buck

Investors might be suffering commodity whiplash as crude oil and gold rebound after last week's washout. How do you trade a market this volatile?

Strategic investor Dennis Gartman, author of the Gartman Letter, joins the panel for this conversation. Following is a summary of his main points.

-- The Fed's decision last week was inflationary but proper.

-- We are seeing a rebound in commodities from last week's panic liquidation.

-- The commodities bull market has not ended: some commodities (like wheat) have topped, but others (like corn, soybeans, cotton) probably have not.

-- Expect spot gold to find resistance between $940-$960 on this bounce -- but also watch for higher highs eventually.

How do you trade?

Get smaller, counsels Gartman. I’m flat and I’m nervous.

How about long term?

Tomorrow's Trades: Commodities

Are we going to see higher prices in cotton, corn and gold a year from now; quite likely, says Gartman. Gold could trade at $1000, as soon as the summer and personally, I’m long gold. Also I’m buying copper stocks as an infrastructure trade.

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Trader disclosure: On Mar.26, 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 (YHOO), (INTC), (EMC), (ATVI), (DIS); Najarian Owns (AAPL), (CSCO), (EMC), (MS), (MSFT), (NOK), (ORCL), (TSO), (XLF), (YHOO); Najarian Is Short (CAG); Najarian Owns (COP) Calls, (RMBS) Calls; Najarian Owns (MER) Puts; Najarian Owns (BSC) Calls; (CHK) Calls; Najarian Owned (RMBS) Calls On 1/30/08; Finerman Owns (GS); Finerman's Firm And Finerman Own (HD); Finerman's Firm Owns (CLWR), (MO), (MSFT), (SUN), (VLO), (WMT), (YHOO), (TSO), (BCE), (BJS); Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM), (COF), (GLD); Finerman's Firm And Finerman Own (KALU); Seymour Owns (AAPL), (CSCO), (INTC), (MER), (MSFT), (S), (TSO), (F), (HAL); Seygem Asset Management Owns Severstal, (TTM)

Gartman Owns (PCU), (NFLX), (JPM), (AAPL), (HOV), (DCR), (UNG), (SDS); Gartman Is Short (WFMI); CIBC Gartman Index Owns Wheat, Corn, Soybeans, Gold, Crude Oil, Natural Gas; CIBC Gartman Index Is Short S&P Futures,