Art Hogan
Art Hogan
good market means money rough seen staying stuff worked
We've seen some really good stuff and some really rough stuff, ... The market has worked its way through a bottom, at least on the Nasdaq and S&P. Money is rotating, so that means it's staying in the market and that's good news.
coming data earnings economic great marquee whether
We need a significant catalyst. Whether it be great second-quarter earnings or blowout economic data or some marquee firms coming out with a mid-second-quarter preview.
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.
coming euphoria wear
This euphoria is probably going to wear off for the Nasdaq and Dow coming into tomorrow.
plenty reasons sell stocks
There's been plenty of reasons to sell stocks today.
continue current direction drift economic employment investors market report until
I think the market will continue to drift without any real direction until we get Friday's employment report and investors get a sense of the current economic outlook.
leadership provide stocks technology tend
Technology stocks typically tend to provide leadership in mid-cycle recovery, and I think that's where we are,
household lead pick theme winners
I think the theme is going to be that you have to pick the winners, and I think the winners are going to be the large-cap household names, like IBM, Dell, Microsoft, Cisco, and Intel. I think they'll lead us for a little while.
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.
options
I think we need to get through the options expiration tomorrow,
discount fourth growth investors price quarter second starting
Investors are starting to discount the second quarter and price in growth in the fourth quarter,
particular slow summer
It's distressing how slow it's been this particular summer season,
bets cause particular placed ton wacky
I don't think there were a ton of bets placed during this particular quarter, but it does cause some wacky moves,
bets concerned economy people slowing
Obviously, we are still concerned about how much the economy is slowing going forward. There are a lot of people who aren't making bets on this marketplace.