dennis gartman of the gartman letter. who agrees with that? >> these stocks, general mills, for example, until a year or so ago has been parabolic in its move. it obviously sold off $3 or $4 off that all-time high we made. archer daniels is a name that comes to mind. we are getting precariously close to levels we saw in 2008, this 46 level. it better break through there, if not, that can top as with el. >> what we saw negative for corn was positive with soy. we still have monsanto. i agree with kelloggs, i would be a buyer of monsanto out of the corn weakness. still ahead, find out what's happening in puerto rico. it could be a were whating sign. alexander lebenthal tells us how they could impact the portfolio. plus, is wine still a good investment? we will tell you why wall street still betting on the trade. much more "fast" ahead. [ girl ] my mom, she makes underwater fans that are powered by the moon. ♪ she can print amazing things, right from her computer. [ whirring ] [ train whistle blows ] she makes trains that are friends with trees. ♪

we have dennis gartman. plus a first on first cnbc interview about jet blue and how it could impact his business. the question right now is how high the government will allow oil prices to go. remember the last time they tapped the spr, the petroleum reserve was if june 2011. crude was just above $five bucks a barrel. today it settled just under $107 a barrel. >> i think so, to a certain extent, this could be the way they answer it if they don't want to put boots on the ground, this could be tear way of answering the rising crude. they released 30 million barrels back, that was the libya incident in 2011. that's what they were trying to do. but this teams e seems like a much bigger event to me. i don't know if that will curtail the rise in oil. >> really, even if they release? it was:30 million barrels, if conjunction with all the other players the 60 million on the mark, on that day, they filled up 4%. >> when we were doing this, the real top was when there was demand side architect for this. i don't see wh

>> dennis, good to see you. >> thanks, mel, good to be on. >> dennis gartman, the man. >> he is the man talking about the commodities space, what's interesting, dennis is basically talking about supply issues. looking across, the crb, commodity index at 21-month highs which are happening in a number of different spots, iron ore prices below the cash cost so 30% of the chinese mines begin to come off line. the russian producer is going to break the pricing cartel in potash, steve and i very long in this name. again, you're getting at least on the price side, not necessarily demand, this is very cyclical in the commodity space, a place where a lot of commodity prices are firming up, and i think you can get long the miners. >> investors are gearing up for the ipo speculator. coming up, we brake down who is really using the hd cameras and why its user base might time off and cnbc's morgan brennan gets her hands on harley davidson's first electric motorcycle. we've got the details. more "fast" straight ahead. >>> it is almost go time for go pro. this time investors will get a chance to own a

. >> dennis gartman has given his take now on the show. we have a trade update after this. . fedex soaring on the top and bottom line. volumes in the ground business, chairman and ceo fred smith was on cnbc moments ago, take a look what he had to say about his companies performance as a whole. >> we were relatively confident about the economy. we see a bit of an act sell racing. we think the quarter we are in now could be as high as 3.9%. >> guy, 52 week itoday. >> this was a 6% higher good quarter? i'm not sure that was the case. the goes was nothing great. 17 times forward earnings? reasonable. i don't think you can go out and initiate a long position in fedex up 6% on five times formal volume. this is too much to me in one day given these earnings. >> would you rather? . >> i love this game. ups. >> really? i was going to ask you that. >> i worked at ups. i got to wear the shorts. >> very cute. wow. >> hot, hot, hot. >> there it is. >> nice gams. let's move on to conagra, weakness in consumer foods, specifically singleing out the chef boy ardee line. >> this is one of the

but dennis gartman telling me we see these headlines all the time and not to get too concerned about it. one final point, indian gold demand, india is the world's second largest market for gold. you've got a lot of people this work in thinge ing agriculture are l. have will have less money to spend on gold. >>> we'll talk more about mrk's student debt crisis.will have l to spend on gold. >>> we'll talk more about mrk's student debt crisis. interest rates are expected to jump july 1. nationally, the average earned about $30,000. so in our live vote, we're asking, is a federal student loan forgiveness plan a good thing to do? you can go to cnbc.com/vote. but first, how much more will those rising rates add to that debt burden? sharon epperson dives in to the numbers for us. this is obviously your beat, you're so good at it. but these are scary numbers. >> and borrowers will actually see the impact in the rise in treasury yeeields because the federal student loans tied to the ten year treasury note will go up, too. let's look at the rates. for stafford loans, rate will go to over 4.5% f

. >> for more check out the online show, cnbc.com and talking to dennis gartman and he'll tell us what he thinks of bouillon right now. michelle, back to you. >> great word. see you later. >> last chance to get into the action. what stock do you want the brothers najarian to debate? logon to cnbc.com/vote. can you pick between philip morris, gm and lennar. >> look at that voting. wow. >> now, which one wins? >> up for debate. >> you signed like the two muppets guys. >> how about a cage match instead of a debate? >> i'd like to see that. >> arm wrestle on the desk. >> can we throw that up. >> as long as they keep their clothes on. >> really? >> still ahead on "the half." looking for a liquid asset and listen up. we're talking to the manager of a new fund that invests strictly in actual whiskey. but, first, tiger woods is back on the course. our eamon javers is there, too. eamon. >> we're here at the beautiful country club in bethesda, maryland, where tiger woods is making a very big comeback after back surgery. this is his first event back. we saw him tee off earlier this morning, but t

dennis gartman is here and the winners and losers.he biggest move up and down the lists? "squawk" returns with all of that in just a moment. . welcome back to "squawk box" this morning. the number of mortgage applications declined by 1% above purchases and refinancing dip as the average 30-year mortgage rate fell a bit. in other economic news, new york fed president says the central bank can reasonably wait to raise interest rates until mid-next 84 without risking an undesirable rise in inflation. he suggested the unemployment rate can move considerably lower without a problem. whole foods agreed to pay $800,000 after an investigation found they overcharged customers in california. inspectors discovered they charged more than the advertised price on many items. >> covering that story is deep, isn't it? >> that's been going on in supermarkets, all sort of retailers. >> whole foods? hold the press,er, they're overchargeing, whole foods? hold the presses. >> otherwise known as whole paychecks. >> whole foods is overcharging, you are kidd

"fast money" trader brian kelly and dennis gartman. dennis, i'll start with you.eing whether it was david tepper's comments earlier today, the behavior of markets, the decisions people are going to start to make now, a capitulation of the bears? >> well, i would hope that the bears may not be capitulating because you need bears to keep a good market going higher. there's plenty of people around who are still bearish. i think they're obviously wrong. they've been fighting that trade for a long period of time. i hope there's still bears around. i bet they didn't cover and i bet with this morning's action in the euro, first of all, and the early sort of weakness that we had, i bet the bears were actually sellers early on, probably some ran their cover but you need bears in the market to keep the market going higher. you need shorts in a market to keep the market going higher. kelly, i doubt that they ran for cover. >> peter, are you one of them? >> unfortunately. but let me say this. according to the investors intelligence numbers on wednesday, there are no bears. an

. >> dennis gartman and securities attorney andrew stultman. good to see both of you back.hy is this happening? why do we have to keep doing that? >> i kind of feel like i'm in the movie "groundhog day." it's the same old thing ore and over again. the banks have defrauded customers over and over and over again. they get away with it year after year after year and they're a very easy target for regulators to go alf. >> dennis, the question is one of eight belles. >> quite honestly, i'm going to take complete exception. this is nothing more than a prosecutor's attempt to run for governor at a very early rate. let's beblunt. that's what's going on here. i have my doubt that this is egregious fraud. i don't think they're out to defraud anybody. i fail to see where the disconcerting -- >> let me ask. did you say across the board you don't think there's anything nefarious going on? >> now money laundering, libel manipulation? >> i'm sure -- >> that doesn't pass the red-faced test. that's a joke. to argue that they paid tens of bi millions for money laundering. >> and libor. >> th

there's dennis gartman, author of "the gartman letter" on why he thinks china's bears will end up ont miss a minute of that. coming up the fbi and s.e.c. reportedly teeing off an insider trading probe against carl icahn, golf legend phil michelson and big-time las vegas gambler, all parties denying any wrongdoing. could this do irreparable damage to michelson's career even if charges aren't brought and the more than $40 million he brings in a year from sponsorship deals and if you're waiting for exciting news from the apple developer's conference. keep waiting. could this put apple's recent rally at risk? that when we come back. nation in new private sector job creation... with 10 regional development strategies to fit your business needs. and now it's even better because they've introduced startup new york... with the state creating dozens of tax-free zones where businesses pay no taxes for ten years. become the next business to discover the new new york. [ male announcer ] see if your business qualifies. become the next business to discover the new new york. in a we believe outshin

dennis gartman was long wti this morning but that changed as news developed.you stand and where do you think events will stand from here? >> first of all, kelly, i was actually long wti and short of brent coming in to it morning which was characteristically a bearish sort of trade. but the news coming out overnight of what had happened in mosul and tikrit had me go to the sidelines. i said i've got the wrong trade on at this point. sometimes the best trade that you can make is the trade that gets you out of a jam and pulling the trigger and saying i want to get out of here is exactly the right course of action. i didn't have the timerity or courage to take the bullet posture. but if i'm quasi bearish of something and come to cover it, i don't turnbullish for at least 24 hours. nonetheless, circumstances that prevail, an ugly civil war that i think, sadly, is going to get worse between shia and sunni in what is, for all intents and purposes, the northern part of kurdistan is going to get much worse. these things tend not to resolve themselves nicely or resolve

we have dennis gartman.about jet blue and how it could impact his business. the question right now is how high the government will allow oil es