Investors become very guarded at the point that they think oil prices could take a chunk out of economic growth,
More Quotes from Hugh Johnson:
The rise in oil prices and concern over the Fed's interest rate policy are very troubling to the market, ... That's going to present a challenge to this rally.Hugh Johnson
A 25-basis point rise is built into the markets. What's not built in, and there's a chance this could happen, is that they might shift the balance of risks to favor inflation, which would mean that rates will rise more aggressively next year.
Hugh Johnson
I think what the half-point cut showed was that the Fed for the first time appears to be taking the situation very seriously. I think investors are also still mulling the move and thinking what is it the Fed knows that they don't know. Could it be worries about a double-dip and deflation It's this uncertainty, among other factors, that's the reason why we're down today.
Hugh Johnson
Everybody is going to know the same, but it's going to be less. The disclosure of information becomes more carefully managed than the Federal Reserve manages the disclosure of information.
Hugh Johnson
The stuff that worked in the fourth quarter and the first part of this year isn't working any more, like Internet stocks, large-cap tech stocks, and other large-cap names.
Hugh Johnson
The fundamental premise in this business is you cannot be stuck in this business. You can buy stocks for the long haul, but if the market breaks down, you're going to suffer. You're going to pay for it.
Hugh Johnson
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