How about China in '08?
China’s economy is so strong, Gartman says. Beijing has tried “everything” to slow it down. But until we get past the Olympics I can’t see anything slowing China’s economy.
What’s your best energy trade?
If you want to own energy own Suncor up in Canada. And now I like Petrobras in Brazil.
Have we seen a bottom in the dollar?
I think we've probably seen the worst for the next month or two Gartman replies. But it’s amazing how the turn of a year often constitutes a major turn in a currency. I’m long the Canadian dollar and I’m short the Euro.
What about the US dollar?
I think we’ve seen the worst, he adds.
I think the dollar continues to weaken against the emerging market currencies adds Tim Seymour. But against the major currencies I think it’s overdone.
What about soft commodities?
They will probably get more expensive next year Gartman speculates. I’ve been very bullish of the grain markets and I don’t see any reason to think soybeans will get weak. Perhaps wheat is a little “toppy,” but after the Congressional mandate for new fuel requirements – I anticipate strong demand for corn and soybeans.
How do you trade it?
We are long Mosaic (MOS) says Dennis Gartman.
I like that stock Tim Seymour adds and Potash (POT).
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Trader disclosure: On Dec. 21, 2007, 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), (EMC), (ATVI), (INTC); Finerman's Firm Owns (YHOO), (GS); Finerman's Firm Is Short (IYR), (IJR), (IWM), (SPY); Finerman's Firm Owns (MDY) Puts; Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Finerman's Firm Owns S&P 500 Puts; Finerman's Firm Owns Russell 2000 Puts And Is Short The Russell 2000; Finerman's Firm Owns (MBI) Puts; Najarian Owns (C), (ETFC), (MS), (MSFT); Najarian Owns (YHOO) Options, (ANR) Options, (EMC) Options; Seymour Owns (AAPL), (BLK), (CFC), (INTC), (MER), (MSFT), (YHOO); Seygem Asset Management Owns (MOS), (EEM); Gartman Owns (GMO), (POT), (PBR), (BRS), (BUD), (GLD), (BG), (SDS); Gartman Is Short (COH), (TIF), (SBUX), (CEO), (XOM), (CAT), (IYG); CIBC Gartman Index Owns Wheat, Corn, Soybeans, Gold, Crude Oil