Art Hogan Vest Quotations

This is a delayed reaction to the Fed's rate cut and it was good news, ... It looks like investors are participating.

The price of oil is acting as a natural drag on the U.S. economy and the global economy. It creates a great deal of investor uncertainty, ... as earnings reports start coming in, it's going to be what companies tell us about the next three quarters that determines if investors get off the sidelines.

I think we'll start getting investors into the marketplace later in the first quarter,

It's that ongoing fear of slowing. It puts into words what you don't want to hear. Investors are heading back to the sidelines for a bit.

(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,'

We're in that dreadful point in investor psyche where bad news is bad news and good news is bad news,

The equities markets are very forward pricing mechanisms so the (corporate) news you're hearing has been priced into the market, for the most part. The news that you should focus on is what will be suggested in the commentary that comes out because we're trying to invest for fourth-quarter growth.

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,

I think the fact that we had this awful bombing ... and yet the market seems to be moving on, that it's starting to become sort of priced into the marketplace. We may get investors to get back in off the sidelines at some juncture as we start to get earnings reports for the quarter.

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.

We're getting an oversold bounce. Telecoms are getting a boost because of the AT&T Wireless (news), ... Investors are going to buy those tech stocks that we're not necessarily worried about.

Cleary this had been a disappointing first half. But I would argue that long-term investors need this kind of an education to show them that markets don't go up forever.

Clearly investor confidence has not come back in the market.

As fearful as investors were nearly seven weeks ago, they're afraid of missing the bottom, so that's why you see the violent moves to the upside. But we still have to get through October,

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.

I think the market will continue to drift without any real direction until we get Friday's employment report and investors get a sense of the current economic outlook.

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.

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

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,

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.

Investors are starting to discount the second quarter and price in growth in the fourth quarter,