Historically, six to nine months after rate cuts, the economy stabilizes and starts to swing in the other direction, ... But a lot of things are different this time. The Fed came off an aggressive tightening mode, and there's a global economic slowdown. It's just going to take a while longer this time.
More Quotes from Art Hogan:
Today we had some positive economic data and we came into the market oversold, ... I don't think we've fixed the oversold position -- I think we're still cheap. Tomorrow there will be some focus on factory orders and Cisco earnings.Art Hogan
We've gone through a lot this week in terms of getting ready for the Fed, ... We've got some important news at 200 on Tuesday and obviously you're not going to make a huge bet in front of that. However, we seem to be in good shape for that announcement.
Art Hogan
Obviously we're in an environment with the friendlier interest rates, ... The first sector that does well (after cuts) -- except for the credit card issuers -- is the retail stores.
Art Hogan
I think there's an interesting space called DSL, which is an avenue to get onto the Internet at a high-speed rate. It stands for digital subscriber lines. It competes with cable access and offers a speedy access to the Internet.
Art Hogan
This is a delayed reaction to the Fed's rate cut and it was good news, ... It looks like investors are participating.
Art Hogan
I think the dollar's recovery has a huge impact on the market, when you look at things like gold, which is getting tattooed today, ... I also think it's important psychologically, like when oil finally peaked in the mid-50's.
Art Hogan
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