John Hughs Weeks Quotations

I think we're going to continue to see this churning for the rest of the month and then February tends to be seasonally weaker for the market, ... Longer-term, the momentum is still up, but we may need a few weeks of consolidation.

We're kind of back to where we were four or five weeks ago. We're in this transitional environment, where after the December and early January run there seems to be a cap on the upside, but there's also no major negatives pulling us down.

What we're seeing is this kind off continuing correction in tech stocks that began a few weeks ago. The money is leaving tech and going to what we call value stocks.

We're getting to the year-end period and stocks are starting to drift. You're seeing that today, ... There's still a lot of uncertainty about the economy and about the change in Bush's economic team. We're also coming off a period where the Dow rose for 8 weeks and so you're seeing a little pullback. You saw it last week and I think it's continuing.

There's not a huge rally building now, but we've seen a little pattern in the past few weeks of rally, scale back, and then continue, and we may see that again,

The chips and the Nasdaq, that's where the leadership was in the April to May rally, and after two weeks of sideways trading, we're seeing a bit of a resurgence in that area,

The news is all positive, but it was what the market had built in, ... There was nothing spectacular about the numbers. The market is still in a correction phase, and it will continue for the next four or five weeks -- at least through Labor Day.