The markets are picking up the scent of a compromise in the offing.
More Quotes from Edward Meir:
We cannot rule out further gains later in the week, particularly if (DOE) inventory numbers surprise.Edward Meir
The situation, therefore, still remains serious, with the next few weeks proving pivotal. We still think, however, that an eventual compromise will be reached, as both sides will be hard pressed to carry through with their threats.
Edward Meir
Yesterday's sell-off was a shot across the bow, but we don't think the bulls will be heading for the hills any time soon.
Edward Meir
The growth picture looks very solid. We're not seeing any slowdown at all in any of the major metal-consuming countries, despite higher energy prices and higher interest rates.
Edward Meir
New money may not enter the markets with the same vigor as has been the case in the past, especially if growth in the U.S. shows signs of slowing on the back of steadily rising interest rates.
Edward Meir
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