Jim Melcher
Jim Melcher
amazing holding market oil prices
It's amazing the market is holding up as well as it is, considering that oil prices are at a record.
keeps pumping
It just keeps pumping out the earnings, an excellently managed company,
road rocky work
It's going to be a rocky road going forward. You're going to have to work for your money.
gone great hit normal rise today worst
The worst hit sectors today are the ones that have gone up the most. They've had a great rise and so it's normal to see this kind of pullback.
believe blue buying dangerous greatest mania mistake people regard similar
This is the greatest stock-buying mania of all-time, people are buying stocks, they're buying blue chips, with no regard to value. In this respect, it's similar to 1929. People believe that as long as you're buying, everything's fine. This is a dangerous market, you should make no mistake about that.
case excuse money
There's a lot of money out there and a willingness to take any excuse to put it to work, in this case the Fed.
since stock unusual week
This is probably the most unusual week we've had in the stock market, at least since 1929.
cheap foreign move prices raised retailers upset
PPI has been rising, but retailers and manufacturers haven't raised prices yet, because there is too much cheap foreign competition. If you see CPI move up, that could upset stocks.
catalyst certainly fed lasted news ought question rally sort spark sustain terrific year
Something like this news is the sort of catalyst that ought to spark a terrific rally now, but the question is will it sustain itself? And that's not at all clear. Certainly in '98 when the Fed did this you had a rally that lasted a year or two. I think we're going into a rally right now,
flows march money moving slower time
However, we're moving into a slower time for money flows in March and April.
actions concerned eventually growth inflation lead markets robust
The markets are concerned that robust growth in the U.S. will eventually lead to inflation and actions by the Fed.
financial full helping market outcome sustain
The market is optimistic, and that's helping to sustain it right now. But we don't really know the full financial outcome of these two hurricanes, and we may not for a while. That uncertainty is weighing on sentiment.
broader companies driven five good last market money moving selling
the market is, and has been, for the last five years driven by about the same 100 companies, but if you could see money moving down to the broader market, we've got some real values, a lot of good companies selling really cheap.