Dennis Gartman’s Next Big Commodity Play Might Surprise You

Anyone who is involved in the commodities market, even a little bit, has at least heard of Dennis Gartman if not his Gartman Letter, which discusses commodities in great detail. He has become a bit of a weather vane for the highly volatile commodities market. He has had the pulse on such commonly traded commodities like oil, gold and silver. However, this week on CNBC, he took to the air to discuss an upside trajectory he has noticed lately in a lightly regarded  semiprecious metal that is actually important in industry.

“I took a look over the weekend,” Gartman said on CNBC’s “Fast Money” program this week. “I’ve been watching it for a while, but the chart pattern just jumped out at me, looking at palladium. … I look at the chart pattern and thought, this has gone sideways for three and a half years, and now it looks like it is breaking out on the upside.”

How does a metal like palladium suddenly take off like this? Gartman offered his take, saying it has to do with the auto industry.

“Palladium and platinum are the semiprecious metals used in catalytic converters,” Gartman said. “The automobile sales otu of China really struck me. … If gold does not give up the ghost, I think palladium has a chance to move several hundred point higher. The chart pattern has my interest, and the manner of which automobile sales are picking up, really has me interested.”

He does have a warning about his advice: It’s easy to get stuck in palladium. See the full video clip below to get Garman’s entire report:

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Best States To Practice Medicine

The 10 Best States to Have a Business

The 12 Most Expensive Apple (AAPL) Apps in the Market

The 10 Richest Billionaires in the World

10 Biggest Kickstarter Failures

The 10 Best Places to Work At

The Top 10 of Google Inc (GOOGL)’s Most Expensive Acquisitions

13 Best Cities to Visit in South America

10 Most Expensive Works of Art of All Time

The 10 Richest Banks in the World

The 10 Best-Paying Jobs in America (2014)

7 Most Expensive Foods in the World

The World’s Top 10 Earning Authors

Five Wicked and Very Expensive Items (and Other “Stuff”) Sold on eBay

10 Biggest Celebrity Bankruptcies

The Top 10 Highest Paid CEOs in 2014

The 10 Most Expensive Real Estate Cities in America

10 Most Expensive States To Live In America

The 10 Best Airlines in the World

The 10 Best-Selling Cars in 2014

The 10 Best Industries to Invest In

The 10 Most Expensive States to Own a Car In

Top 10 Business Schools in US: 2014 Rankings

Top 20 Female Billionaires in 2014

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top 6 Tax Scams and How to Protect Yourself

Top Businesses to Invest In

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!