Hugh Johnson Bull Quotations

When you say the stock market is overvalued, you imply that the stock market is going down. But there is a touch of lunacy in every bull market -- stocks can become even more overvalued. A rational investment policy in an irrational world is suicide.

One of the most important signs of a bull market is when the bull market manages very, very bad news like we've had today. So in that sense, you've got a very encouraging performance today.

The recent rise in interest rates has created some uncertainty about the bull market's longevity.

As the bull market progressed, analysts became more optimistic about next year's earnings. Now, it's the extent to which companies will hit their numbers for 2004 that will make next week so important for the market.

There's an old adage on Wall Street: bull markets climb a wall of worry. Needless to say, there are a lot of worries out there.

If you get that configuration, particularly liquidity conditions, usually you can bet pretty heavily that this is going to be a bull market.

The Goldman Sachs news seemed to re-energize the bull market.

The conditions for the restarting of the bull market, or the start of a new bull market, which is how you should look at it, those conditions do not exist. Not yet, and that's why the markets went down yesterday despite what the Fed said,