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United Advisors Chief Market Strategist Scott Martin on the outlook for the markets.
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Meanwhile even with all this uncertainty in Washington stocks are still inching closer and closer to all time highs were not quite there yet.
But only -- get their joining me now Scott Martin chief market strategist for united advisors -- got lots of questions for you today -- tell me what you think the markets were due weighing.
Selling off a little bit here adds that the Federal Reserve meeting notes came out some disappointment there what was her reaction to.
Well they were doing exactly kind of what you said a little selloff tear him in the markets have been Fuego a year to date so little bit of let's say take back is not exactly a bad thing because I think they'll let some other people get in who have missed this rally.
There's some things though -- I am concerned about -- -- -- -- passed along the notes is metals -- in the commodities complex.
Jerry whether you like gold silver doctor copper mr.
copper is like the column has run up.
More familiar basis you know those metals are not doing around by the commodities the last six months -- -- -- absolutely terrible it's about like no this is going.
-- -- six month below here I mean you know this is amazing.
But you know that could be good news for the overall economy don't you think -- gold which is that the fear by.
Is not being purchase right now.
Sort but.
Remember what's happened last two years Jerry gold has been like a stock and that it's gone up with Nixon did -- -- right and now it's diverging and that also your point about commodities -- -- because.
Look at oil oil prices have gone up a lot this year and that's what a lot of demand -- my house prices are up a time.
-- -- -- they are and that's something big it's hitting the consumer -- behind the scenes that nobody's talking about.
The consumers getting hammered Wal-Mart talked about a last week because the gas prices are so high.
It's got hang on a second set you know we've seen the markets and and and and let me just tell you what I think about what's gone on in this rally.
Everybody covers this is jumping up and down thrilled that we get this big rally that's gone on for awhile now at this and I say you know early to -- -- -- five years ago.
Establish -- that right.
I think we should definitely be higher and don't forget the NASDAQ -- while the S&P is comeback in the last decade the NASDAQ is way off.
And the individual investor -- you and I talk about so often these days on this show.
Is out of this market I mean they haven't participated any more than say 50%.
Of this rally and that's the big story so here.
You know what is also interesting I think to talk about the individual investor but there's also this idea of the disconnect between what's happening in the market the stock market.
And the way the president describes what's going on in the economy in the ultimate cost of sequestration.
Is going to end western civilization if we let it go forward.
Really look at us stock market it is on fire what do you make of that disconnect.
I think it's a complete disconnect your -- never connect at this president because certainly.
If you look at the U leading up indicators to this sequestration -- -- you have to say the market is reacting positively.
-- finally having some cuts vs no cuts right I mean.
Tend to have a tax increase on everybody the offset what this market move past would be leading up to these sectors sequestration issues are -- is a great thing it's as I'm worried gadget Jerry -- that we're gonna get taxes upon the taxes weird it got the beginning of the year.
-- gonna tell you.
I I just wonder there's a lot of people out there who cover the markets analyze the markets -- analysts or economists that they ran a great big fat pull back.
In stocks to agree.
I think it's definitely possible because certainly we've had this run -- -- been supported by what I mean you mentioned the economic data.
-- economists I mean I kind of consider myself.
They recovering economist and one thing that I see is no job growth they're not much no wage growth and by the way a negative GDP report which is the overall economic output of the economy last quarter that's not a good sign we know if you would still -- yourself an economist you could be wrong with time and nobody would care.
That's right there's lies damn lies and statistics that economists have yet if I if you -- I was talking about that I could definitely call myself an economist -- about that I.
-- Scott thanks for coming on -- it's a pleasure having good to -- -- Jerry art by.
