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?