Art Hogan
Art Hogan
bad behind earnings follow guessing numbers worst
It's earnings pre-reporting season, ... I'm guessing that a lot of the worst is behind us is going to come out in commentary. Unfortunately it is going to follow numbers that are just as bad as the first quarter.
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My guess is we're going to have some positive action after last week's selling. We're in the last week of the month and the last week of a quarter, so there's some momentum there. If the stream of economic data is as positive as it's been, we're going to see some strength from that.
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I think the market has discounted a lot of the bad second-quarter chatter we're going to hear, and my guess is that conference calls going forward are going to be much more positive,
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.
backing bit companies earnings energy handle high positive price season
We've been able to handle a lackluster earnings season so far. Energy companies haven't really come into the fray yet, so things may look a little better after they report. Another positive is that we're backing off a bit from the high price of oil.
bought focus folks low money news rumor selling shift starting victory
We bought on the rumor and are selling on the news, ... We've priced in the victory here. There's very low participation -- there's just no money in the game. Folks are starting to shift focus now.
boost buy investors stocks tech wireless worried
We're getting an oversold bounce. Telecoms are getting a boost because of the AT&T Wireless (news), ... Investors are going to buy those tech stocks that we're not necessarily worried about.
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We have to get used to the fact that the emergency level of the fed funds rate is behind us, ... The sooner we become cognizant of the fact that the global economy won't be crushed and corporate earnings won't roll over, the sooner the market will fight its way to trend higher.
deal obviously
When you see a deal of this size, obviously (Washington Mutual) is still acquirable,
bad dreadful good investor news point psyche
We're in that dreadful point in investor psyche where bad news is bad news and good news is bad news,
best change data economic finished host next plays spent week work worrying yields
We spent the week worrying about yields and what the economic data would do. We managed to work our way through it. We finished off the week the best we could. Next week we have a host of economic data that may or may not change our mind. We'll see how it plays out.
corporate hear hopefully negative positive terms
We're still in the pre-reporting season, so, we'll hear more warnings from corporate America, hopefully more positive than negative in terms of guidance.
admit companies half lingering second starting
We're starting to see that companies are starting to admit that the second half is going to be slow, so that's a lingering fear,
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We're seeing better earnings news in corporate America. That's what the market is celebrating, ... We made major collateral damage to stocks in the last six weeks and over a larger 2-1/2-year period. What's happening now is that the market is bottoming out and is building a higher support base in the process.