This market is trying to rally. If the Fed reduces interest rates by 50 basis points, it will touch off a rally, but if we get a rally it will be guarded.
More Quotes from Hugh Johnson:
Yes, it creates volatility around the world when they pounce. As a small investor, you should keep an eye on hedge fund activityIt's going to be a part of our financial landscape. You're going to have to live with that.Hugh Johnson
The problem is there are exceptions. You're still left with the question Is this the time when it won't work
Hugh Johnson
The market does have a valuation problem, ... But I don't put much stock in any valuation model, including my own. It's very rational -- it tells you when the stock market is overvalued or undervalued -- but it doesn't work.
Hugh Johnson
Obviously the situation turns very heavily on interest rates,
Hugh Johnson
If there are lots of other signals of appending recession, take it seriously. But don't hang your hat on the yield curve.
Hugh Johnson
It is encouraging that the market has been able to hold together. The overall message is that the events in Southeast Asia will in time have an impact on the U.S. economy, but not a major impact in 1998. And that is really good news.
Hugh Johnson
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Humor is emotional chaos remembered in tranquility.
James Thurber
Bondage is of the mind; freedom too is of the mind. If you say 'I am a free soul. I am a son of God who can bind me' free you shall be.
Ramakrishna