Art Hogan
Art Hogan
direction downward headed lower push stocks
It doesn't take much to push stocks lower in this market, ... Stocks have been headed in a downward direction for a while.
close
It does look like they are not as close (to settling) as they were going to be,
points reaction seeing
We were up more than 100 points yesterday, so you're seeing a reaction to that today,
broader compared concerned economy economy-and-economics half investors lows market process second surprise test
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.
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.
convinced excited future optimistic oracle rebound second
Just because Oracle is up and is optimistic about the future is not getting us excited about everything, ... Nobody's convinced there will be a rebound in the second half.
clearly economy market searching sort turnaround
We need some capitulation in the economy and if we get any sort of turnaround in the economy we can turn this market around on the Nasdaq. We're clearly in a market searching for a bottom.
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,
bet front gone good huge news obviously ready seem shape terms tuesday week
We've gone through a lot this week in terms of getting ready for the Fed, ... We've got some important news at 2:00 on Tuesday and obviously you're not going to make a huge bet in front of that. However, we seem to be in good shape for that announcement.
afternoon found low months rhetoric suggesting thursday weekend weeks
We'll probably get some rhetoric over the weekend suggesting we've found the bottom, ... I think weeks or months from now we'll look back and say (last) Thursday afternoon was the low point.
great profit
I don't think it's anything other than profit taking. They really had a great two-week period.
concerned energy prices weeks
For two weeks we've been concerned about earnings, energy prices and the euro,
norm volatility
But it's more of the same unfortunately. Volatility is going to be the norm not the exception.
across bar future guidance meet trouble
If they don't meet expectations, I think we're in trouble -- but I think the bar has been lowered across the board, ... It's more about the guidance and what they say about future quarters.