Hogan Bottom 2/12/09 February 12, 2009

Today, 2/12/09, the Dow Jones is testing the Hogan Bottom at 7773.81 and it has held. The Dow Jones just hit 7774.98 and is now trying to bounce.

Why is the stock market going down today?

We are basically testing the lower end of the recent range due to the uncertainty on the banking plan by Timothy Geithner. On Tuesday, we fell 381 on the Dow Jones and the overall stock markets crashed because of the banking plan failure. Until we get some clarity of an actual plan instead of stated goals which we already know about, stocks are vulnerable. I don't expect this for weeks!

As I write this, the Hogan Bottom has been violated. If we close below the Hogan Bottom, the next support level is 7500. The Nasdaq is holding up well, over 1500 , but we all know this can change fast!

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Art Hogan CNBC Hogan Bottom 2/6/09

Art Hogan - managing director at Jefferies came on CNBC this morning and gave an update on where he stands on the stock market. Art Hogan is famous for a CNBC term, Hogan Bottom.

Art Hogan Comments - February 6, 2009

Things are looking positive

- Market digesting bad news, good sign
- Looking at stimulus plan as being constructive
- You are seeing risk is moving higher, people are buying apparel retailers, people coming out of stocks like Wal Mart ( WMT ) and the 10 year treasury and taking on some risk.

Sectors to Avoid

Residential Real Estate and Auto Sector

What is the Hogan Bottom?
Art Hogan November 2008

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What is Hogan's Bottom? Art Hogan Bottom CNBC

What is Hogan's Bottom? "The Hogan Bottom" is a phrase heard on CNBC which was called on October 10th, 2008, by Art Hogan - managing director at Jefferies. Art Hogan boldly came on CNBC just after 9am when the Dow Jones Futures were down 400 and the Dow Jones was set to break 8000 for the first time since late 2003. Art Hogan said the bottom gets put in today, enough is enough!

Now, I'm assuming he was referring to the Dow Jones since most people think of the Dow Jones Industrial Average when the general term of " Stock Market " is used. Erin Burnett even referred to a few Dow components in the interview such as General Electric ( GE ) and IBM ( IBM ).

So, Art Hogan's bottom call turned out to be, for the most part, right! The Dow Jones crashed and hit 7773.71 and then bounced. Art Hogan also came on November 14, 2008, and said we will bounce and we will have to reset and figure out where we are when we get to 2009.

Below are the lows hit in 2008 for the Dow, Nasdaq, S&P 500 -

Dow Jones - Hogan Bottom Failed only 1 day - 11/20/08

October 10, 2008 - 7773.71 low on Hogan Bottom Day
November 20, 2008 - 7464.51 low
November 21, 2008 - 7449.38 low but we closed at 8046

Nasdaq

October 10, 2008 - 1542.45 low
November 21, 2008 - 1295.48 low

S&P 500

October 10, 2008 - 839.80 low
November 21, 2008 - 741.02 low

Hogan Bottom 12/12/08 - Art Hogan CNBC

Art Hogan came on CNBC 12/12/08 and gave some comments on his opinion on the stock market right now. Art Hogan is famous for the " Hogan Bottom " which he cam on CNBC October 10th and called the bottom. It has only been violated one day in which we closed above it. Click Here for previous Art Hogan comments.

When you look at what has happened today, there are two stories, the Madoff story and the auto bailout story. The best possible scenario would be to use the tarp funds...the timing is key, would like to see White House come out today and say they will be doing something. You don't want to put a band aid on this and leave it for the next administration.

I think you remain defensive in this market, buy health care, consumer staples like Clorox ( CLX ) that will help you ride out the next few quarters which are going to be ugly.

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Hogan Bottom: Art Hogan 11/20/08 CNBC Comments

Art Hogan, Chief Market Strategist at Jefferies & Company was on CNBC this morning, 11/20/08, 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 ( Although we will be testing Art Hogan's Bottom Call Today! ). Below is what he had to say November 20th, 2008. Previous Comments - HERE

Art Hogan CNBC Comments:

Its a difficult day to come back on CNBC, we breached the S&P 500 and Nasdaq closing lows, I guess the Dow Jones could be next....the biggest changes were GM and the big three automakers, use of the tarp changed, financials down 22% over the past week. It's going to be a difficult morning. The problem is structurally things have changed!

Can we get a reversal today? We need clarity on the automotive industry, we'd also like to hear who the next Treasury Secretary will be for the next Administration. The market needs clarity!

Advice for us Art? It's going to be a tough couple of days, as soon as we find out a new plan of where we are going, the better we are going to be.

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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.

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