The problem is there are exceptions. You're still left with the question Is this the time when it won't work
More Quotes from Hugh Johnson:
The durable goods numbers are telling us that businesses are spending money, and that the outlook for the economy is solid. And after last week, the earnings numbers are encouraging. So we're seeing a good bump today.Hugh Johnson
Long-term interest rates are low and I'd prefer to buy when rates are higher and more attractive. As a federal government issuer or taxpayer, I'd be excited but, as an investor, I just don't see the appeal.
Hugh Johnson
When you see buying in that (technology) sector in a bear market, it implies that there are investors out there who see improvement around the corner, and it's usually technology and cyclical stocks that lead the market out of a downtrend, ... The bias towards Friday's data may be that the data will be consistent with the view that the economy is showing some expansion.
Hugh Johnson
Their (Exxon's) profits were very strong, and December personal income was higher than forecast.
Hugh Johnson
The combination of a decline in oil prices, however slight, and some fairly upbeat comments (by Fed officials), may have led Fed watchers to conclude the Fed may raise interest rates at its meeting in May, and then stop.
Hugh Johnson
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.
Hugh Johnson
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