27 Quotes by Jim Melcher

We are just about to move into the pre-announcement season when companies start to tell you how wrong you were about earnings estimates,

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.

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.

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,

This is probably the most unusual week we've had in the stock market, at least since 1929.

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.

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.

It just keeps pumping out the earnings, an excellently managed company,

It's going to be a rocky road going forward. You're going to have to work for your money.