That's the situation today, ... Since that's the case, I'd be more inclined to think this will be a negative year than a positive year.
More Quotes from Hugh Johnson:
To some extent everybody is a little exhausted. In the absence of big news we'll see a quieter day. It feels like we were hit by a tidal wave over the past three or four days and today is like the aftermath, picking up the pieces.Hugh Johnson
You had a pretty good move in biotech this year, and biotech really has quite frankly lifted the health care and the drug stocks recently because investors have become somewhat defensive -- say in the last month or so -- and have also, on a relative basis, performed fairly well.
Hugh Johnson
I get worried about so much optimism and the fact that the market is overvalued,
Hugh Johnson
It's not good news, ... Even though the focus is on the Middle East and oil prices, these numbers clearly are not going to stabilize the markets.
Hugh Johnson
It's very hard to attribute it to an event or release because there is none. I certainly wouldn't attach any significance to it. The professional money managers aren't doing much. They want to take a clear look at third-quarter earnings.
Hugh Johnson
Almost every quarter I can remember people have come up with reasons to explain away earnings gains. The truth is that earnings are doing better, and the hope is that, because earnings are improving, companies will begin to hire and spend money on technology.
Hugh Johnson
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