Art Hogan Quotes

"Compaq is weighing down the Nasdaq, but we're getting a rotation into Dow stocks, ... It (the election) got so petered out after 35 days that it was hard to get much of a reaction."

"I think the dollar's recovery has a huge impact on the market, when you look at things like gold, which is getting tattooed today. I also think it's important psychologically, like when oil finally peaked in the mid-50's."

"This [jobs report] is nothing short of spectacular,"

"In terms of the thought process on the economy, today's ISM data on the services sector didn't help,"

"There's just no conviction to get back in, ... Right now we're in all-bad-news-all-the-time mode."

"It doesn't take much to push stocks lower in this market, ... Stocks have been headed in a downward direction for a while."

"I think the dollar's recovery has a huge impact on the market, when you look at things like gold, which is getting tattooed today, ... I also think it's important psychologically, like when oil finally peaked in the mid-50's."

"Investor sentiment is shifting and volume levels are starting to pick up, ... Investors were just taking advantage of yesterday's one-day record advance to take some cash off the table."

"It didn't really come as a surprise -- but, having said that, the broader thought process that the economy isn't doing well in the second half compared with the first half has investors concerned that we may need to test the lows of the market again."

"When the Federal Reserve is in a (interest rate) tightening mode it's difficult to get excited about old economy stocks,"

"Fifty-two percent of the households in America are invested in the U.S. stock market and they want to invest in the things that had 70 percent growth last year, ... As long as the money keeps flowing into equity mutual funds and they are targeted toward Nasdaq stocks, we are going to see this go on for a while."

"With the financials, that entire space has been tarnished by a confidence crisis. Also, on a more fundamental level rather than a psychological level, there's no investment banking business going on right now. The concerns remain about the banks' exposure to bankrupt telecoms WorldCom and Global Crossing,"

"(Greenspan's) a proponent of what productivity gains have brought to this new economy, ... Of all the things he says, the least hawkish is when he talks about productivity and the new economy. In terms of Wall Street's reaction, I wouldn't say we could garner anything but a positive feeling."

"If you've put together a wish list to buy stocks, there are some great bargains out there. The include quality names, those that remember to bring that top line revenues down the bottom line in the form of earnings -- that's going to be the key."

"Investors feel that the Fed's action on Tuesday, May 16, has been priced into the market and it's safe to get back into the water,"

"The revisions are in the right direction, but there's still some softness in the manufacturing sector which keeps the Fed on watch in terms of interest rates, ... It's sort of an 'in line' number, but not really closing the door to keeping the Fed aggressive with monetary policy."

"The biggest fear is earnings going forward, ... All the consumer non-durable multinationals are going to have to warn about the ill effects of the strong dollar versus the weak euro, but that's cyclical."

"The increase in wages was the piece that really speaks to the inflationary pressure. The fear is that the Fed doesn't stop in March, that it continues through May. If corporate America's borrowing costs go up, that makes stocks less attractive."

"We've priced to perfection, so you're going to have a little bit of a retrenchment,"

"I think the semiconductors and the Nasdaq had sold off a little more than the rest of the market recently, so you're seeing them gain, ... But basically we're all waiting for everything that happens next week."