Hugh Johnson
Hugh Johnson
Hugh Johnson OBEis a British author and expert on wine. He is considered the world's best-selling wine writer. His 1961 tasting of a bottle of 1540 Steinwein from the German vineyard Würzburger Stein is considered to potentially be one of the oldest wines to have ever been tasted...
ProfessionNon-Fiction Author
Date of Birth10 March 1939
depending earnings internet spur stir stocks watched
We have such speculation in Internet stocks already that it's earnings will be keenly watched and could stir up more speculation or spur a decline, depending on their results.
attracts far level reach
We got down too far too fast. You reach a level that attracts buyers.
ignore market stock
The one thing you don't want to ignore is the stock market itself,
left problem time
The problem is there are exceptions. You're still left with the question: Is this the time when it won't work?
quite
Those are some 'old economy' picks. But a lot of those companies, quite frankly, look very 'new economy' to me, lately.
strong technology
Those of us who said technology is immune, that was too strong a statement.
given giving last market oil performance prices strong today
Today the market is pausing a bit, given the strong performance last week. There is lot of acquisition activity, which is giving the market some lift, particularly because oil prices are stable.
given last market performance strong today
Today the market is pausing a bit, given the strong performance last week.
becomes borrowing bubble buy driven individual investors largely margin market money prices stock stocks
Usually, when you have a stock market mania, it's driven largely by individual investors borrowing money to buy stocks at prices that are too high. And usually, when a bubble becomes unwound, it's because of margin calls.
Usually when they're cheap, the story is not a pretty story,
reminds
Merck reminds us that this is about earnings.
adjustment declining earnings entirely four great heading inflation interest rates sea stocks
You know, we had four great years because we had declining inflation and interest rates. There's been a sea change. We now have inflation and interest rates actually heading higher. That makes things entirely different - you can't get away with high-priced earnings or overvalued stocks and so we're going through this adjustment to a new reality.
banking japanese parliament watch
We need to watch the Japanese parliament and see if they do anything about their banking crisis.
bear bias buying consistent cyclical data economy implies improvement investors lead market sector showing stocks technology towards view
When you see buying in that (technology) sector in a bear market, it implies that there are investors out there who see improvement around the corner, and it's usually technology and cyclical stocks that lead the market out of a downtrend. The bias towards Friday's data may be that the data will be consistent with the view that the economy is showing some expansion.