When you get disappointments on companies that are selling at 60, 80, 100 times earnings, you get more room to fall.
More Quotes from Al Goldman:
The big change in this market the last month or so has been a mood shift from 'the glass is half empty' to 'the glass is half full', and that's why we've had a good rally and a very modest time-out to catch our breath.Al Goldman
The possessed kid in 'The Exorcist,' whose head spins around.
Al Goldman
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.
Al Goldman
Drug companies are being hit by the Merck trial. But since their valuations are still cheap, we might see a sharp rebound in their stock prices soon.
Al Goldman
The Michigan numbers stink, but its behind us. ..they (investors) are responding to the Presidents speech last night. They see Katrina as a terrible event, but people are already thinking about the business that its going to stimulate.
Al Goldman
The fundamental news and the inflation news remain quite positive. We had that big six-week rally in October. Stocks at this exact moment just don't seem ready to stop this correction.
Al Goldman
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I don't think we will use the 80s glossy sound again.Ann Wilson
Thus a man was born into a fixed relation to certain gods as surely as he was born into a relation to his fellow-men; and his religion... was simply one side of the general scheme of conduct prescribed for him by his position as a member of society.
William Robertson Smith
When a man has lost all happiness, he's not alive. Call him a breathing corpse.
Sophocles