Art Hogan
Art Hogan
bargain came hunters turned
Bargain hunters came out and turned things around.
considered fed good interest news rates rising
The Fed said rates are going higher, which was no surprise, ... But when you're in an interest rate rising environment, all the smatterings of what would be considered good news look like a confirmation that rates will rise.
asian earnings eventually global major markets number people percent rational reaction realize response service tech tends terms time wake whatever wire
The global reaction to this is more of a psychological response than a rational one. People wake up and read whatever wire service they're going to read and realize that one of the major Asian markets was down by up to 6 percent overnight, and there are a number of tech earnings disappointments and it tends to cascade. Eventually you get a more rational response after people have time to come to terms with what is really happening.
gives trading
That gives us a lot of trading time, unfortunately.
neither please
Hewlett-Packard didn't please us with its results, and neither did Cisco yesterday,
continue fed month pass slowing trend until wait
If we continue to see the trend slowing and we get better (economic) numbers, I think the Fed can take a pass at the end of the month and wait until August.
buying next time
By this time next week, we'll probably say we overdid it and be buying stocks.
earning economic half news next path resistance second sustain until
I think this can sustain for the next day or two, at least until we get to all the earning and economic news in the second half of the week, ... Right now, the path of least resistance is still to the upside.
awful bombing earnings fact investors juncture market moving reports seems sidelines sort starting
I think the fact that we had this awful bombing ... and yet the market seems to be moving on, that it's starting to become sort of priced into the marketplace. We may get investors to get back in off the sidelines at some juncture as we start to get earnings reports for the quarter.
basis current data lower points signs terrific trend
I think the Fed's going to lower by 25 basis points and I think the trend is going to show stabilization and a pick-up in growth. The current data is not going to look terrific but there will be signs of stabilization.
baked best outlook quarter question seen statements
Outlook statements for the first quarter are the best that we've seen in some time, but the question is, how much of that is already baked into the market?,
december few last tend weeks
The last few weeks of December tend to be more defensive.
broader compared concerned data economy half investors lows market process second sector services surprise terms test
In terms of the thought process on the economy, today's ISM data on the services sector didn't help. It didn't really come as a surprise -- but, having said that, the broader thought process that the economy isn't doing well in the second half compared with the first half has investors concerned that we may need to test the lows of the market again.
happens regardless stocks
Regardless of what happens in the economy, we're going to use these products, ... These stocks are also oversold.