Art Hogan Terrific Quotations

(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,'

These are terrific numbers, absolutely great, a much needed breath of fresh air for the equities market.

We had a terrific week last week, ... Investor sentiment has shifted to people not wanting to miss out on any strength. There's a lot of cash on the sidelines.

We're seeing a nice handful of earnings today. That is going to be the driver. The other driver, or the thing that's not going to hold us back this quarter, and I would argue has held us back the last three quarters, is the consensus is the Fed is done for the year, ... We don't have a credit tightening cycle to go through and we're seeing terrific earnings. So I would argue that the focus returns now to earnings growth, revenue growth, the strength of corporate America and not necessarily the macro-economic themes like monetary policy which have been on the forefront for the last couple of quarters.

I think the Fed's going to lower by 25 basis points and I think the trend is going to show stabilization and a pick-up in growth. The current data is not going to look terrific but there will be signs of stabilization.

The problem is that terrific news on inflation is not what we need right now, ... We need terrific news on the demand side of the economy. The economy hasn't stabilized yet so we don't have any great need to buy stocks.