Commodities

• Posted by ToddSullivan
• on June 30th, 2008

Some thoughts from the lake…..Dennis Gartman talks about commodities..

Gartman talks about oil (USO) and the demand destruction of it undergoing. He also talks about corn, wheat and the lost acreage of them due to the recent flooding.

One would think that food prices are going higher due to worldwide demand and weather and oil may crash short term. We sold our oil position a little while ago.

Oil is due for a rapid correction followed by a slow drift up. I think the easy money here has been made though.

Disclosure (“none” means no position):None

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