So what’s the trade?
For insights we turned to someone who's anything but old and boring, strategic investor Dennis Gartman, author of the Gartman Letter.
I like boring old copper, says Gartman. I see every reason to continue to hold it. The trend is clearly upward. And I like Alcoa, an old boring company, he adds.
And the next place I’m going to look is US Steel . I like the manner in which this company as well as the other steel makers are trading.
If you watch Fast Money regularly you know that Gartman typically likes the things you drop on your foot. Well most things. He doesn't like gold.
My propensity is to shortgold , he says. If gold trades a little higher I might say sell some gold
In fact, the Fast Money traders all have something to say about gold. What do they think? Watch the video above and find out!
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Trader disclosure: On Apr 14th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour Owns (AAPL), (BAC), (BX), (EEM), (FXI), (F), (PBR), (CSCO), (FDX), (TCK), (SWC); Syemour's Firm Owns (RIG); Terranova Owns (X), (KCE), (AMGN), (DELL), (IBM), (BP), (BRCM), (POT); Terranova Owns (DIS) Calls, (COP) Calls, (HES) Calls, (JPM) & (JPM) Calls, (INTC) & (INTC) Calls, (XOM) & (XOM) Calls; Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Finerman's Firm Owns (AXP), (CSCO), (MSFT), (RIG); Finerman's Firm Owns (WFC) Preferred; Finerman's Firm Owns (BIIB) Call Spread; Finerman's Firm Owns (BAC) Preferred; Finerman Owns (BAC) Preferred; Finerman's Firm Is Short (MDY), (SPY), (USO), (BAC), (WFC), (BPO), (ERG); Finerman's Firm Is Short (MDY), (SPY), (USO), (BAC), (WFC), (BPO), (ERG)
Gartman Owns (FCX)
Gartman Owns (X)