It's a migration toward value as a reflection that investors believe the growth rates of earnings are slowing. It will continue until investors are convinced that the Fed will take its foot off the break, or reduce interest rates.
More Quotes from Hugh Johnson:
Even though it's a bad time, it's a good time - if you have a taxable account, you clearly want to harvest some of the gains, and offset it with some sales of losses,Hugh Johnson
We had a very solid move up in stocks in the first quarter. There's a good chance that what the markets will be left with is a great deal of uncertainty or even the belief that more rate increases are coming.
Hugh Johnson
The truth is with Harley-Davidson, like a lot of other companies, like Wal-Mart and Target, we've seen ongoing, strong demand, ... Harley-Davidson's production has had to ramp up 15 percent per year for the last 10 years. That's pretty impressive and it's all been done to meet that ongoing demand.
Hugh Johnson
The combination of a decline in oil prices, however slight, and some fairly upbeat comments (by Fed officials), may have led Fed watchers to conclude the Fed may raise interest rates at its meeting in May, and then stop.
Hugh Johnson
It's too speculative. I hope that we get an correction soon, it's unhealthy.
Hugh Johnson
The question coming out of the meeting is, is the dollar's slide going to continue and will foreign investors start pulling out of stocks and bonds because of the weak dollar, ... Most people don't think this will happen, but the G7 meeting raised that concern a little.
Hugh Johnson
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