We think that major moves ... should be held in check, as low volumes suggest that many people are either away, or uninterested in initiating new positions.
More Quotes from Edward Meir:
Although many polls show that U. S. consumers are intent on altering their behavior (i. e., driving less), we still have not seen significant structural shifts in behavior.Edward Meir
As long as the prospect of sanctioning 4 million barrels per day of Iranian oil is out there, the Iranian situation, in our view, will be the front and center issue that will command market attention.
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
Prices could rally in the event of such an announcement on Iran, but then come off shortly thereafter once participants realize that despite the consensus, hard work still lies ahead.
Edward Meir
This could, in effect, torpedo Russian and Chinese attempts to bring the Iranians around, and escalate the crisis once again.
Edward Meir
While fundamentals are tight in several of the metals, they cannot justify current valuations. Markets are, instead, held hostage by the growing amount of investment and speculative money out there that is increasingly finding its way into commodities.
Edward Meir
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