The one-year-old bull market is hitting some rough patches, says Hugh Johnson, chairman and chief investment officer of Johnson Illington Advisors in Albany.
"Banks are not lending money. As a result, money supply is not (growing)," he said in a video update Tuesday on financial conditions. Still, he added, "I don't think the bull market is over."
Instead, he called the current slump a "correction ... but within the context of an ongoing bull market."
Johnson said bull markets typically last longer than a year, and he advised investors to "hang in there."
In December, Johnson had painted an optimistic outlook for the economy in 2010. At …
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