Art Hogan
Art Hogan
banking bankrupt business concerns confidence entire exposure global investment level rather remain space
With the financials, that entire space has been tarnished by a confidence crisis. Also, on a more fundamental level rather than a psychological level, there's no investment banking business going on right now. The concerns remain about the banks' exposure to bankrupt telecoms WorldCom and Global Crossing,
action either fed guess higher meeting remain start tuesday until venture volumes
But if I had to venture a guess I think we'll start trending higher up until the Fed meeting on Tuesday and then really take off. Unfortunately, the volumes remain anemic here so there's not a whole lot of action going on either way.
concern fed higher leave meeting rates remains rhetoric thinking
I'm thinking the Fed will leave the rates unchanged, ... We've ramped up pretty higher into this meeting and my concern is the psychological letdown if the rhetoric remains strong.
confidence consumers continue created high interest lower money rates remain retail spending stayed stores
The retail stores are doing well. Consumers remain confident, continue to be out there spending their money, ... A lot of money was created with lower interest rates and refinancing -- things of that nature. So, consumer confidence has stayed very high and retail stores, that have actually done it right, have been doing pretty well.
gains hard larger remains trend whether
The larger trend remains to the upside, but its hard to say whether we'll see gains in the short-term,
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.
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,
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.