Jim Melcher
Jim Melcher
ball cow fund managers nervous rolling smart start worried
I'm not worried about 8,000 hedge funds, ... I'm worried about 400 or 500 of them ? that's what could start the ball rolling down the hill. While most hedge fund managers are pretty smart and knowledgeable, it doesn't take too many to start a rout. One nervous cow and you could start a stampede.
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.
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.
since stock unusual week
This is probably the most unusual week we've had in the stock market, at least since 1929.
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,
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.
corporate direct market operate oversight poor regulation stayed stock
I have stayed away because corporate governance, stock market oversight and regulation are all pretty poor in China. One way to play it is through Hong Kong. You can operate there with some real confidence, and that's probably your most direct play. The other way is through Taiwan.
road rocky work
It's going to be a rocky road going forward. You're going to have to work for your money.
keeps pumping
It just keeps pumping out the earnings, an excellently managed company,
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.
buying consumer economic investor mild question
We've got deteriorating economic fundamentals still. We're probably in a mild recession, but the question is will the consumer keep buying and will the investor keep buying stocks.
distorting higher move odds prices tends week
I think odds are we'll move higher in the week ahead. There's a lot of liquidity, it's what's buoying the markets, it's what's distorting the market, and it tends to move prices up.
danger fast lose people pull retirement
If people think they're going to lose their retirement savings, they're going to pull out real fast and that's the danger of the market.