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Friday, November 14, 2008

Art Hogan CNBC 11/14/08 - Hogan Bottom

Art Hogan, Chief Market Strategist at Jefferies & Company was on CNBC this morning, 11/14/08, and gave comments and stock market predictions. Art Hogan is popular for what CNBC calls, " The Hogan Bottom " due to his bottom call on October 10th, 2008 when everyone was panicking. Art Hogan boldly called the bottom on 10/10/08 and sure enough, so far it turns out he was right. Below is what he had to say November 14th, 2008.

The stock market certianly looks better, we tested the bottom three time now, ( October 10th, October 28th, November 13th ) volume looks good, gives you more confidence. We need to consider how much bad news is already priced into the stock market and most of it is.

We had a 900 point swing in the Dow Jones yesterday, I think we can get another 10% on the upside for the rest of the year and then in 2009 we will have to reset and figure out where we are.