Art Hogan Quotes on People (9 Quotes)

(Techs) had such a terrific run for the past two weeks that I believe some people are taking this opportunity to take some money off the table and invest it in the 'old economy,'

This is not unlike the five percent to 10 percent correction a lot of people were calling for in the beginning of the year. You have an absence of corporate and economic news and clearly people are trying to rationalize valuations.

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.

We're going through a very news intensive period this week and the focus of all of that is slowdown of revenue growth going forward, but we're probably overreacting, ... We get great numbers, but looking forward we don't have the robust growth -- so people are calling into question valuations.

A lot of that rally had to do with the ISM (Institute for Supply Management) number, particularly the employment component, with people hoping that in turn, Friday's monthly report will show a higher number of payrolls than what people are expecting.

Some people are taking advantage of the run-up we've had in the last couple of days in tech land to regroup a little bit,

We've had a few good days and the only economic number we had today was the jobless claims, ... People are starting to get nervous -- if the jobless claims look like that, what will the unemployment rate look like, and that's the driver.

It's not a major deal, ... Whatever bets have been made most of the day (dried up) people are just walking away and waiting until tomorrow.

People are starting to wake up to the credit exposure J.P. Morgan and Citigroup have to WorldCom,