Dennis Gartman's Best Trades for October 4th (EUO, JJC, GLD)

Dennis Gartman's famed investing newsletter is out this morning with a few interesting trades. The first voices a general negativity on the Euro, especially relative to the Aussie dollar. For those that do not have access to the FX markets, buying the Proshares Ultrashort Euro Fund EUO will get you done. He noted that, “We will risk the trade to 1.3500 for an hour or so, and we'll not hesitate to add to the position should the cross trade down to and below 1.3350.” Mr. Gartman also suggested being long of gold and long of gold against the Euro and the British Pound, though he did reiterates that this is merely a protective portfolio position and not a definitive play on the yellow metal. The next trade was being long of Copper futures; those without access to the futures markets can simply buy the iPath Dow Jones-UBS Copper ETN JJC. Mr. Gartman noted that the trend is higher, though this position will not risk more than 2.5% of the portfolio.