It's very hard to attribute it to an event or release because there is none. I certainly wouldn't attach any significance to it. The professional money managers aren't doing much. They want to take a clear look at third-quarter earnings.
More Quotes from 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
Most investors are waiting for the employment report, because along with the ISM services and manufacturing reports, it gives us the first solid news about the economy in March.
Hugh Johnson
Usually what happens is that it really reduces the appetite of investors to borrow money to buy stocks for years. Not months - years.
Hugh Johnson
Investors become very guarded at the point that they think oil prices could take a chunk out of economic growth,
Hugh Johnson
That's why I think it's a better idea to have your own portfolio,
Hugh Johnson
Which summer The most exciting period in U.S. stock market history was the summer of 1929, ... It was the summer, and nobody went on vacation. Many books have been written about how exciting it was.
Hugh Johnson
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