Art Hogan
Art Hogan
believe invest money opportunity past people run table taking terrific weeks
(Techs) had such a terrific run for the past two weeks that I believe some people are taking this opportunity to take some money off the table and invest it in the 'old economy,'
attention bid competing deals industry plenty stocks wall
Telecom stocks should get plenty of attention on Wall Street. BellSouth could get a competing bid and we're probably going to see more deals as consolidation in the telecom industry continues.
acts again attract bond concerns higher interest markets money note rates side south stocks tax yield
Concerns about higher interest rates and the yield on the 10-year note may keep stocks on the south side again this morning. The higher yield ... acts as a tax on corporations, and it may also attract money to the bond markets from equities.
conviction
There's just no conviction to get back in, ... Right now we're in all-bad-news-all-the-time mode.
bargain hunting yesterday
Yesterday was all about valuations and bargain hunting, ... It's not just about bargain hunting today.
anyone certainly convinced either jumping stocks
We're certainly not convinced that stocks are either pricey or inexpensive here, ... So you're not getting anyone jumping in one way or another.
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,
came dealing month negatives selling three worries
We came into the day, week, month with the same three worries -- earnings, the economy, and geopolitical concerns. We're still dealing with all the same negatives and the selling is pretty broad.
coming might numbers surprise upside wages
We've got some big numbers coming out (Thursday). Any upside surprise to wages might put a little spook in the market.
bad corporate front good news time
that we've got more good news than bad on the corporate front for the first time in a while.
continues moved news path perspective resistance upside
Microsoft's news was put into perspective as the day moved along. The path of least resistance continues to be to the upside for this market.
bet meeting since waiting
Why would you make a big bet before a meeting you've been waiting for since the end of June?
anyone slow
When that happens, we typically have a slow day. You'd be hard-pressed to find anyone making big commitments.
money people selective slow steady throwing wiser
I think people are still not throwing money at everything that has a 'dot.com' on the end of it. I think slow and steady is going to win the race, especially if we have broad, selective and wiser investors.