From the Legendary Trader Dennis Gartman.  For subscription information for the 5 page plus Daily Gartman Letter L.C. contact - Tel: 757 238 9346 Fax: 757 238 9546 or E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it or HERE to subscribe at his website

NEARBY WTI CRUDE  OIL: A $22/barrel Break Is Really A Bit  Much, Isn’t It?: One  gets the sense that the  worst to the downside is  behind us… or at least we  hope it is.

"We continue to strongly urge that those who must trade equities do so by being long of very low beta, defensive stocks and short of higher beta, aggressive stocks instead.  Owning the low end retailers while being short of high end “tech” seems reasonable to us, or being long of the low end retailers and purveyors of very basic personal products such as cereals and soap while short of jewelry and high end clothing also seem
reasonable"