The market is reacting more to good news than to bad news at this point. Energy prices are certainly stabilizing off their peak, but it's pretty remarkable considering the headwinds we should be facing.
More Quotes from Arthur Hogan:
I think after yesterday's sell-off, when we turned off the lights and came back in the morning, we got a chance to say, 'You know what We've overdone it here'.Arthur Hogan
The market continues to raise the level of tolerance it has for high energy prices.
Arthur Hogan
No one is willing to make a big bet two days in a row. That's typical of the year We've had a lot of great days, but no follow-through.
Arthur Hogan
Our chief concern will be how the third- and fourth-quarter GDP numbers come out in light of the increased cost of energy,
Arthur Hogan
A lot of investors are in a wait-and-see mode until we get the Fed behind us next Tuesday,
Arthur Hogan
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