Hogan also likes Intel for a position in the semiconductor industry. Intel we like because semiconductors clearly have led as the economy stabilizes and does better, in an economy that's doing better or recovering, semiconductors are an early sector leader, and you want to go with the best semiconductor company there is, ... So Intel is an obvious choice as a recovery play.
More Quotes from Art Hogan:
With the financials, that entire space has been tarnished by a confidence crisis. Also, on a more fundamental level rather than a psychological level, there's no investment banking business going on right now. The concerns remain about the banks' exposure to bankrupt telecoms WorldCom and Global Crossing,Art Hogan
This is definitely good news, ... Six out of the previous eight PPI reports have been higher than expected but the corresponding CPI reports have not. That means that we're not seeing the creeping effects of inflation passed on to the consumer.
Art Hogan
Unfortunately, everyone else is guilty by association with Procter missing (its earnings estimates), and everyone worries about who else in the Dow will miss, ... I think it's a clear sign of investors' overreaction.
Art Hogan
People are starting to wake up to the credit exposure J.P. Morgan and Citigroup have to WorldCom,
Art Hogan
The global reaction to this is more of a psychological response than a rational one. People wake up and read whatever wire service they're going to read and realize that one of the major Asian markets was down by up to 6 percent overnight, and there are a number of tech earnings disappointments and it tends to cascade. Eventually you get a more rational response after people have time to come to terms with what is really happening.
Art Hogan
We really have priced in a lot of bad news. Even if we continue to see a string of (negative) pre-reports, at some point in time, we're going to start to trend higher.
Art Hogan
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