Jim Melcher
Jim Melcher
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.
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.
bear cheap easily economic poor rally stock strong
This rally could easily be a strong rally in a bear market. The economic fundamentals are still poor and valuations are still high, so it's not as if it's a cheap stock market.
definitely
I think there's definitely been a (psychological) shift,
question
That's the question of the day: is it sustainable,
consumer economy fact gm hiring impact looking negative people retail sales slowing waking
People are looking at the negative pre-announcements from GM and IBM, the retail sales reports, the hiring trends, and they're waking up to the fact that the consumer is slowing down, and that's going to impact the economy and corporations.
road rocky work
It's going to be a rocky road going forward. You're going to have to work for your money.
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.
since stock unusual week
This is probably the most unusual week we've had in the stock market, at least since 1929.
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.
keeps pumping
It just keeps pumping out the earnings, an excellently managed company,
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.
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,