joining us is dennis gartman. you haven't aged a day, dennis. >> i had a little more hair back then. >> how are you celebrating this 40th anniversary? >> trying to forget it. it was raining then like it's raining now. trying to make a few dollars and keep my head above water. >> dennis, were you working the ponytail? what was going on back then for you? >> it was a long time ago. >> how do you trade the facebook generation today? >> we're still baby boomers. we're still the ones in control of the money. you have to look at where the baby boomer is going to go. you know, the banks are going to -- we've talked about the banks tonight. the banks are going to be the great beneficiary. our kids are grown. they're out of school. we don't have college education to pay for. we're probably going to downsize. so i think the big house sellers are going to have problems. but the small sellers of houses are going to do fine. you're going to want to own the stocks of the companies that have health care. you're going to want to

>> dennis gartman, always witty and insightful.a good weekend. >>> let's go to "pops and drops." the weekly edition. boeing down 4%. >> the dreamliner. it's ridiculous. ridiculous. >> all right. a pop for regions financial. it was up 14% this week. mike? >> well, you know, i had actually mentioned before that there was some regional names i might be interested in taking a look at and then i had a hard time finding them, because there's a lot of them where you can't figure out what's left on the balance sheet when you take a look at some of the nonperforming. this is one of the ones that i think actually might make it. >> all right. las vegas sands, a pop here. 6%, tim? >> if you think there's no disposable income and you think the consumer is dead you take your chips off the table. after a big run, i would. >> a pop for bb & c. joe? >> it took over colonial bank's balance sheet. asset growth up 6%. i like bb&t here. >> united health care was up 6%. careen? >> i should have seen it coming. timmy did. with congress out of session and

dennis gartman says we saw it happen two weeks ago, it's over. said i've fall noon using a couple indicators that characteristically have done a good job. the biggest sign he looks at is a steady spike downward of weekly jobless claims. that report cops out today. >>> good news for the allison transmission in white marsh. a federal stimulus grant is living life back to the plant. allison transmission will share $105 million with a plant in michigan to develop a rear wheel drive electric system. there are no specifics about how much money's going to go into the plant. >>> the first volunteers for the h1n1 swine flu vaccine in the u.s. roll up your sleeves for the shot later today. with drug companies under pressure, there are growing questions about safety. here's jeremy hubbard. >> reporter: the government wants nearly 160 million americans to get the n1h1 swine flu vaccine this fall. testing already begun in a handful of countries. the first three volunteers in this country will receive the vaccine later today in seattle. the world health organi

dennis gartman came out and said finally getting hot weather to support prices a little bit.urrent storm, you have a situation where bill is strengthening, but not threatening oil or gas platforms. ana could strengthen but not enough to concern a lot of people, although i did have one tra trader just tell me right now, that listen, no one wants to go home short in this market the way the weather is even though the pattern are necessarily bullish in terms of threatening these situations, but friday, you can expect short covering late in the day and friday keep an eye on short cover iing becae no one wants to go home short. i'm no forecaster, i've stood near one of those walls before, but nobody wants to go and not be covered because you don't know what could happen overnight. >> okay. thank you very much, sir. keeping an eye on oil prices as hurricane season picks up steam. let's send it to adam berg at the weather channel. what's stirring? >> i just heard you talking about ana, we have bill out here as well. extremely busy across the atlantic, and bill is intensifying. we cou

dennis gartman is founder of "the gartman letter." dennis, good to see you today. >> scott, good to be here. >> where's the market going, dennis? >> which one? >> the stock market. >> the stock market is probably still going higher. i'm a little surprised by it. today's action was really quite shocking oerngs lower and then trading higher on the day, especially in light of the rapidly rising crude oil prices. every time i try to fight it it seems to ble up in my face. the trend seems to be up, doesn't it? >> everybody's saying the markets going lower. the traders we talked to on the floor want the market lower so we can get back in on some dips. and the market won't go lower. >> it's really quite amazing. back in march nobody wanted to buy it. now everybody keeps wanting to try to sell it. smart guys, i think i'm a reasonably smart guy, smart guys try to sell it, next thing you know you've sold it short you run back in when it gets higher on the day, you say that didn't feel good, and it depends on what you're looking at but it depends

last week, dennis gartman, july 29th. the stock dropped $5 from the multimonth high in copper. you see it drop $5, gets to $55, around $55.50 it closed that day. the at-the-money call -- excuse me, puts, august 55 puts trade and you buy those, hold onto the stock. that's what we talked about, don't get flushed out of the stock. you get a $10 run on the stock, you lose $2 on the put, that's an $8 profit. it allows you to stay in this trade if you believe copper. and if you believe in the housing, you've got to love copper. give me a giddyap! >> although today we saw copper pull back from the ten-month high. >> a little, pennies! this was trading under $2. when it got over $2, we all started putting a parade out. now that this is running, we've got to keep an eye on it. i think freeport is still very, very cheap at these levels. you can't chase it. if you do, you'd better buy puts. >> another sector seeing profit-taking, red hot tech stocks, apple and amazon losing steam as the nasdaq crossed the 2,000 mark yesterday. i was in springfield, missouri, but the bells were ringing on

dennis gartman is the founder of the gartman letter and our guest host bob barbera. one is watching and waiting for the jobs report that's out in less than an hour's time. dennis, you bring out an interesting idea in your note from this morning where you talk about clues we may or may not be getting from president obama. he spoke last night and what caught your attention? >> the fact he said we may have seen the worst of the jobless losses, we may have seen them cut by half. we know that the administration gets to take a look at the number before time. get it last night. looks like he's already told us it's going to be around 250,000. i think that was a leak and we ought to pay attention to that. >> bob, you said that earlier. >> the fact he spoke last night enthusiastically he suggested it was cut in half. the peak numbers were 700,000 so i don't know we know it's 250,000 but it takes a shockingly bad number off the table. i wouldn't want to be the president of the united states giving that speech last night with the number and then have it come out and look particul

on top of that, dennis gartman of the gartman letter says it is likely we could see prices from a technical perspective once they've broken through 75, we could see them back at 85 bucks a barrel. one last thing to follow, the hurricane activity will continue to talk about that throughout the day. for now, rick santelli is standing by for us. rick? >> rebecca, you hit it. when we talk about the dollar on this trading floor, pretty much half the participants think the equity have a correction, that's a dollar friendly. fiscal picture and the issues, of course, of the day are damaging to the dollar in the big term. hence, we kind of make our own energy crisis to some extent because of the dollar denominated aspect. as far as interest rates, what a wild week. basically we're highly unchanged from yesterday. but on the week, yields are down massively, especially in the longer. look at 30-year bond, it's down 21 basis points on the week. think about that. we have lots of supply. we've had certain numbers, mostly manufacturing doing better. treasuries are pricing as though they are a bit pessimis

dennis gartman joins us. great to see you. >> great to be here.> we have been watching these volatile commodity prices. it got so crazy for a while over a year ago where you said, forget it, this is a little too chaotic. are we getting back into some of those volatile swings? >> i think you almost are. look at what's going on in crude oil, for example. normally, i watched the spread between the various months, what's known as the cantango. you're moving those differences almost $1.50 over a six-month period of time. these are unusual circumstances. volatility is coming back in in a big way. you're seeing copper prices up seven, eight, nine cents in a day. gold moving $25 and $30. it's not quite what we saw. it's not the volatility we saw last july and august but it's getting close. >> you know, the other thing, dennis, there are a lot of people who say this is all because of the economic outlook, tied to fundamental things, are we using enough of this copper and oil, or there are other people who say, no, no, no, this is just because there are spe