I think we've seen technology take a tumble a number of times and come right back. Most professional money managers look at a technology slump as a buying opportunity.
More Quotes from Hugh Johnson:
Yesterday's weak ISM number shows the manufacturing sector is just limping along. Another report this week suggests that Friday's August employment report may not be very good. Worries about the economy resurface and are reflected in stocks,Hugh Johnson
Yes, it creates volatility around the world when they pounce. As a small investor, you should keep an eye on hedge fund activityIt's going to be a part of our financial landscape. You're going to have to live with that.
Hugh Johnson
The markets are moving to more reasonably reflect expectations for what lies ahead in 2005.
Hugh Johnson
When the markets struggled for a technical bounce in the morning, that was investors sending a message that we're either heading toward an economic recession or toward a profits recession.
Hugh Johnson
It's pretty clear that companies have made money and their cash positions are high and this should help the market stage an advance in November and December.
Hugh Johnson
It's very clear that higher energy prices are now being passed along to consumers, and it's not difficult to do that when the economy is as strong as it is. This will put additional pressure on the Federal Reserve to continue to raise short-term interest rates.
Hugh Johnson
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