Thomas Galvin Quotations

Whenever the department suffers a fatal fire, we take a constructive, critical look at the event.

I think we could rally for the next 30 days, but again, I think you probably want to be more cautious as you get into the spring when the IMF austerity programs in Asia start to really pull the economies down. So even though we have some current relief rally happening, I think it could be short-lived and not as sustained as we might want.

I think we're returning to the inflationary worries which is more painful for interest rate-sensitive (companies) and less an issue for technology. It's a similar rotation that began yesterday (Thursday). People are concerned about inflation.

Over the next 12 months, we believe the Nasdaq has 200 points of downside risk and 2000 points of upside potential, creating a ten-to-one ratio of reward to risk which makes this an opportune time to be aggressively buying stocks.

I think people are getting ready for a fourth-quarter rally. All this selling pressure we've seen has built up a lot of cash on the sidelines which is being put to work.

This will be as bad if not worse than what we saw in the first and fourth quarters of '97. We're looking for about 3 percent S&P 500 growth right now, and the consensus is looking for about 6 percent or better. So I think anxiety levels will remain in place for a couple of weeks until we get further through this confession period.

We've really run the gamut of bad news and I think people have grown tired of it,

There's no question that this market has to learn how to walk before it can run again,

The chances are greater for a bad number than a good one.

The fire was quickly extinguished once we got on the scene, ... We had to do a search of the building and it's obviously a large building, plus we had a difficult time getting the passkeys to the rooms to do the search.