The fourth quarter is when we'll see the impact of rising interest rates, higher energy prices, ... I would say eBay is the biggest piece of the problem this morning. It's a household name and it's adding to the sentiment we're not going to have the best of fourth quarters.
More Quotes from Art Hogan:
I think there's a lot of things going on, ... We had some good news from companies like Oracle, great economic data this morning, and you had the market clear two key psychological hurdles recently -- the Dow passing 10,000 and the capture of Saddam Hussein. All of that brings buyers back in for the short term.Art Hogan
We've gone through a lot this week in terms of getting ready for the Fed, ... We've got some important news at 200 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.
Art Hogan
The global reaction to this is more of a psychological response than a rational one. People wake up and read whatever wire service they're going to read and realize that one of the major Asian markets was down by up to 6 percent overnight, and there are a number of tech earnings disappointments and it tends to cascade. Eventually you get a more rational response after people have time to come to terms with what is really happening.
Art Hogan
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.
Art Hogan
Today we had some positive economic data and we came into the market oversold, ... I don't think we've fixed the oversold position -- I think we're still cheap. Tomorrow there will be some focus on factory orders and Cisco earnings.
Art Hogan
The whole issue goes a long way in showing how dangerous an investment the sector is, ... You can have one regulatory setback, one clinical trial or negative development for a drug, and you see this kind of impact.
Art Hogan
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Based on Topics: Morning QuotesToday's symphonic music is sponsored by the upper structures of society.
Sun Ra
I believe that the reason why I love painting so much is that it forces one to be objective. There is nothing I hate more than sentimentality.
Max Beckmann
Everybody grows but me.
Queen Victoria