Hogan's Bottom

The words Hogan's Bottom is on fire in the searches today. I figured out why. Here's what I found.

Art Hogan is the managing director of Jefferies.

This is what Art Hogan said on October 10, 2008.

“This market is indiscriminately selling and ignoring good news out of IBM, GE, and ignoring good news on the monetary policy front.. all of that’s being ignored while we’re in liquidation mode.”

“I think if you look at all the carnage we’ve done to the major indices, the bottom gets put in today.

Appearing on CNBC this November 20, 2008, Art Hogan gave his predictions on the stock market. Art Hogan is popular for "The Hogan Bottom".

This is what Art Hogan said on CNBC:

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.

That's all for now on The Hogan's Bottom.