They're (Intel) not citing problems like currency or raw material costs they're citing demand, and that puts a spook in all of the markets, ... There's a little bit of a flight to safety and Hewlett is a news-related purchase.
More Quotes from Art Hogan:
We bought on the rumor and are selling on the news, ... We've priced in the victory here. There's very low participation -- there's just no money in the game. Folks are starting to shift focus now.Art Hogan
Arguably, Nokia's news isn't good, ... If we were rallying on Nokia, it was a little questionable on its reasoning.
Art Hogan
We didn't see any changes in his game plan and that is clearly good news for stocks at this juncture.
Art Hogan
This is not unlike the five percent to 10 percent correction a lot of people were calling for in the beginning of the year. You have an absence of corporate and economic news and clearly people are trying to rationalize valuations.
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
We're not getting a lot of companies that are doing cartwheels about the second half in terms of IT demand. In terms of where we stand, getting out of the second-quarter earnings reporting season, moving on with business as usual, is probably going to be a healthy thing.
Art Hogan
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