Ed Meir Quotations

Short term, there are various cross currents in the markets, and it will be hard to get a read on where prices will go this week. There apparently is still more firepower that funds have at their disposal to move markets even higher.

Capping the upside is the fact that inventories have not drawn much despite the cold weather we have had thus far and therefore are not unsettling the markets much.

The specter of progressively higher inventories is blunting the impact of geopolitical tensions, making it harder for the market to climb.

The weaker tone continues today, as in addition to bearish US inventory data, a slight warming trend is contributing to more brazen selling.