Sunday, October 11, 2009

Steve Meyers on the recent rally

A hat tip to one of my readers flipdippy for finding this little gem.

Steve Meyers is a 20 year veteran commodities and futures trader. You can find Steve here at his site which is called Grainbeltcommodities.

I believe Steve pretty much nails it here as he describes whats fueling the recent stock rally.

The United States is now a desperate nation that's in decline.

Enjoy!

4 comments:

Tom said...

Hi Jeff

The question is when will reality stick it's nose into the market? Or is the market it's own reality? It seems like a self contained system that has no connection to "mainstreet" almost like it is a different country. Most people who have a 401K or IRA are happy to see the market go up everyday which of course makes the government happy. If you can manipulate the market up and make money everyday why let it fall? Something has to make fall, right? Something that can not be controlled. What is that something?
Reality says our economy is collasping, Wall street says the opposite. Who wants the S&P to go back down to 666?

jg said...

Jeff, the link to Steve Meyer's website does not work.

Great video; thanks for posting it.

jeff said...

Tom

Good questions.

I wish I had the answer as to how long it lasts.

For now, the trend is lower dollar=higher stock prices.

Keep in mind this whole rally has been on low volume.

The manipulators only have so much power so they can't stop it from falling once there is a reason to sell.

For now they have kept the skeletons in the closet. at some point though they will come out because the government is digging deeper and deeper debts.

There will be a point where inflation runs wild if we continue down this path.

Tom

the way I see it is the fuse is sitting there waiting to be lit. For now the Fed has been able to keep all of the matches wet.

jeff said...

jg


You can thank Flip for the catch.

I love the stuff you guys find.

Sorry about the link. Its repeated at the end of the video.

Best

J