The Macro Dirt Podcast A Conversation with rugged Individualists
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Jan 8, 2026 Tony Greer and Jared Dillian dive into the impact of the Venezuela regime change on markets and geopolitics. They analyze the breakout of uranium following U.S. energy funding and discuss the implications of the Bloomberg Commodity Index rebalance. The conversation shifts to the recent highs in copper and the potential for a commodity rotation. With a bearish outlook on the dollar and insights on navigating crowded trades, the duo also debates the value of private property amidst political discussions. They blend market analysis with personal anecdotes for an engaging listen.
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Latin America Rally Sparks Sector Rotation
- Latin America stocks rallied after Venezuela's regime change, reflecting regional relief and renewed investor interest.
- Tony Greer sees oil weakness and sector rotation into transportation, defense, semiconductors and broker-dealers as drivers for higher S&P ranges.
Range-Bound Bonds Are Bullish For Stocks
- Bonds staying range-bound is the most bullish condition for equities according to Tony Greer.
- He expects mean reversion in yields with intermittent inflation spikes but overall a supportive backdrop for stocks.
Trade Breakouts With Moving Average Stops
- Use clear risk-reward setups on commodity breakouts like uranium and buy above pennant breakouts with moving averages below as stops.
- Tony Greer recommends doubling down while maintaining a stop if price closes back below the moving averages.