The bottom line is the market ran too far too fast, and we have to remove the excesses. Believe it or not, although corrections are no fun, they do improve the health of the long-term bull market.
More Quotes from Al Goldman:
We've had a strong economy for four years now and no inflation, so I don't see inflation as a problem, ... The market went into the tank early today because the message was our correction just wasn't over yet and then, of course, pressure from the techs.Al Goldman
People are beginning to feel like the boat is leaving the dock -- there is a lot of money on the sidelines, ... The bottom line is we are transitioning from a bear mood to a bull mood, but it doesn't go straight up. Bear markets stink, but it creates very good opportunities for intermediate to long-term investors.
Al Goldman
Everybody knows that the economy is going to do better sometime, that the stock market will recover sometime. It's a question of when you are ready to make a bet.
Al Goldman
Second quarter earnings are going to be a very pleasant surprise. A quarter point increase won't even cause the economy to sneeze. It's so modest it will not be a factor.
Al Goldman
It's been horribly grim this week. There's a high level of gloom and doom in the market and a low level of optimism.
Al Goldman
The possessed kid in 'The Exorcist,' whose head spins around.
Al Goldman
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