Money manager Dennis Gartman,founder and editor of The Gartman Letter,a leading financial website,says the stock market is telling you the recession is ending.Oil is up because of the weak dollar.If you start to get up to 80-85 dollars a barrel,you start to bring new technologies into play.New methods become profitable.
The Federal Reserve can be destroyed by congressional edict,Mr.Gartman observed.You have a left-leaning administration that will not tolerate rising interest rates.
Hedge fund misbehavior is probably widespread,in Mr.Gartman's view.This insider trading bothers him.I am a hedge fund manager,he said.We match wits with what the market's doing.This is sad,not a good thing for our business.
I got hurt in 19 October,1987,Mr.Gartman recalled.You had a stock market that had been going down for four months.My strategy was dead-spot on,but it just didn't work.Each time,the market is completely different,Mr.Gartman explained.
The Gartman Letter is accessible to subscribers only.Dennis Gartman is a frequent guest on business television,however.
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