Common sense alone says energy is not going to be the leader.
More Quotes from Hugh Johnson:
There's no news, nothing I see on the immediate horizon, next week, that would shake the market out of its current malaise or end the summer doldrums. There are so many things to worry about, and investors are therefore sitting on their hands, not making any new, major commitments.Hugh Johnson
If you're going to bet on economists and strategists on one hand, and the markets on the other, take the markets every time.
Hugh Johnson
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.
Hugh Johnson
Like any indicator, whether it's the Super Bowl or anything else, it's sometimes right and sometimes wrong. It's just not very rational to conclude that if January is a bad month, the market will have a bad year.
Hugh Johnson
The stuff that worked in the fourth quarter and the first part of this year isn't working any more, like Internet stocks, large-cap tech stocks, and other large-cap names.
Hugh Johnson
ultimately extremely good news for the health of the market.
Hugh Johnson
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