Hugh Johnson Basis Quotations

This market is trying to rally. If the Fed reduces interest rates by 50 basis points, it will touch off a rally, but if we get a rally it will be guarded.

I don't think it changes anything for Federal Reserve policy. Various early warning signs of inflation are still telling us they have to raise interest rates by 50 basis points and they are likely to do so when they meet next week.

Large is the place to be. The market has been rewarding investors in large cap, and rewarding investors on a relative basis in mid cap, but quite frankly, it is an on-again/off-again type of thing with the small cap, and the small cap is not a place to go. The market is not signaling to me that you should play it on the small cap side, mid cap is fine, large cap is definitely the place to be.