What do you make of the gold trade?
It’s amazing what happened in gold, says Gartman. I had been bullish of gold but now I’m so scared of what’s going on, I’ve cut back my positions by about 95%. There’s liquidation going on everywhere. There’s panic in the air.
I wouldn’t be surprised if gold drops into the $800’s, he adds. There really isn’t much support until about $850.
Are you shorting oil?
I thought about it and if I were to trade it, I’d be a seller.
Any thoughts for investors?
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Trader disclosure: On Mar.19, 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 (AAPL), (BIIB), (CSCO), (MCD), (MS), (MSFT), (NOK), (XLF), (YHOO), (C), (IDCC); Najarian Owns (BSC) Calls, (TSO) Calls, (CCU) Calls; Najarian Owns (LEH) Puts; Macke Owns (YHOO), (INTC), (DIS), (EMC); Seymour Owns (AAPL), (CSCO), (INTC), (MER), (MSFT), (S), (SBUX), (TSO); Seygem Asset Management Owns (CHL), (EEM); Seygem Asset Management Owns Gazprom; Gartman Owns (COIN), (SDS), CIBC Gartman Index Owns Gold, Natural Gas, Wheat, Corn, Soybeans Sugar; CIBC Garmtan Index Is Short S&P 500