Art Hogan
Art Hogan
clearly effect equity exaggerate low strange summer tends vacation volumes
I think we're clearly in summer vacation mode, so we're going to have low volumes -- which has a strange effect on equity valuations and tends to exaggerate moves,
adverse celebrated economy effect fact less party rhetoric slower stern today yesterday
We celebrated the fact that (the Fed) was much less stern on their rhetoric yesterday (Wednesday), but today the party is over and a slower economy may have an adverse effect on earnings,
creeping definitely effects eight expected good higher inflation means passed previous reports seeing six
This is definitely good news, ... Six out of the previous eight PPI reports have been higher than expected but the corresponding CPI reports have not. That means that we're not seeing the creeping effects of inflation passed on to the consumer.
biggest consumer dollar earnings effects fear ill strong versus warn weak
The biggest fear is earnings going forward, ... All the consumer non-durable multinationals are going to have to warn about the ill effects of the strong dollar versus the weak euro, but that's cyclical.
ahead fear fourth gotten hold negative ourselves
I think we got oversold, not on negative news, but on fear that we'd gotten ahead of ourselves and that things can't hold up in the fourth quarter,
calendar cycle difficult earnings economic generate interest natural news quiet reports slowing vacuum
I think we're going through this natural vacuum in the news cycle where we have a quiet economic calendar and the fourth-quarter earnings reports are slowing down. It's difficult to generate any interest in the market.
investors later start
I think we'll start getting investors into the marketplace later in the first quarter,
market price second stock trying
I think we'll see the stock market trying to price that (rate cuts) in the second quarter.
options
I think we need to get through the options expiration tomorrow,
hold market rally start
I think this market can hold on to this rally and start trending higher.
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.
basically happens market next rest seeing sold waiting
I think the semiconductors and the Nasdaq had sold off a little more than the rest of the market recently, so you're seeing them gain, ... But basically we're all waiting for everything that happens next week.
brings buyers capture clear companies data economic good great hurdles key market news passing recently saddam short
I think there's a lot of things going on, ... We had some good news from companies like Oracle, great economic data this morning, and you had the market clear two key psychological hurdles recently -- the Dow passing 10,000 and the capture of Saddam Hussein. All of that brings buyers back in for the short term.
euphoria microsoft ongoing sort
I think there's going to be ongoing euphoria about the Microsoft decision. It's not just Microsoft ? it's sort of a pro-business decision.