Al Goldman Market Quotations

There are some signs of fatigue. We're still in a bull market but it's important to remember that it's over 27 months old. We can't expect it to rock and roll the way it did even a couple of months ago.

Selling pressure was broad as the market extended its current modest setback to three days.

If we find him dead, I think the Dow goes up 100 points and it's a short-term top. If we catch him alive, the market goes up maybe 50 points and then goes down.

There is no economic justification to raise rates. There is no sign that prices can go up much in this competitive environment? Raise rates or not raise rates, I feel that the market will continue its appointed rounds on the up side.

I think the main thing that's going right for the market is that we still have a very healthy economy, with rising earnings and benign inflation. On a technical side, I think the correction ended three weeks ago. The market has been slowly recovering its sea legs. We had five days up in a row on the Nasdaq composite, and that is the reason why the profit taking yesterday. But the big picture still remains very positive,

We're already in a bear market for small- and mid-cap stocks. Big caps have been in a Super Bowl market and we are correcting that.

We are in a market that is momentum driven with money chasing a few stocks, particularly Internets and high-techs.

We sense that the sell-off is behind us and the market has the preconditions in place for a pretty good year-end rally, ... It's not going to be fabulous because we've already done an awful lot since Sept. 11.

We have been and we remain in a very powerful bull market, ... in near term basis, the market has come long way in short period of time? and odds favor a bit of a time-out in the next week.

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.

Two emotions rule the stock market ? one is greed and one is fear. In March 2000, greed was extreme, the market was at record highs and people were yelling 'where has this gain been all my life?' But by February, early March of this year (2001), fear had reached a an extremely high level, reaching a crescendo on March 22.

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.

Earnings are ancient history. The first quarter is under our belt. The market is now looking to the fourth quarter and ahead.

These are the personalities of a market getting in the areas of a bottom.

Right now this is a market based on sound fundamentals. I do not see any irrational exuberance. I see intelligent buying. Somewhere out there we will get into a blow-off stage but when that will come is totally unpredictable. Therefore, I'll worry about it when market action starts to change.

The Nasdaq, which is largely driven by tech stocks, has soared 24 percent in the past three-week period, so today we're seeing some profit-taking as the market is refreshing.

After our selling climax on Friday, we've had a couple pretty good days that brought in cash aggressively off the sidelines. This market is just acting better because of its own internal devices, not because of any specific development. There's good value and money coming in, which is impressive.

The mood in the market is one of a high level of caution. When you get some selling coming in, it's almost like a chain reaction -- it builds on itself.

A number of the high tech names are getting smacked real good. It was already a market where investors were nervous already. With the darlings getting hit, that raises the anxiety level.

Applied Material's multiple is bound to -- down to something like 15 times forward-looking earnings. The multiple less in the overall market and it's a great company with dynamic growth prospects.

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.

This bull has shown us for more than seven years that when it pulls back it bends a little but doesn't break. You get a small price discount and buyers come right back in. And that's the sign of a bull market that has plenty of life left in it.

The number one factor next week will be the market's own internal dynamic. In other words, how much more momentum does the market have after going up 1,000 points in one month?

Crank that into a market and it will drag lower than whale droppings at the bottom of the deep blue sea.

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.

The best stimulant you can have for a market is an 'up' market, and it feeds on itself. The market is 90 percent emotions, and the mood shifted.

The bears just won't give and I love having bears out there. It keeps the market somewhat healthy.

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.

The message of the market today is that there is a lot of money on the sidelines and that money was looking for a reason to buy. And the main reason to buy is that we're going up. Momentum builds on momentum.

(Intel) is down but not out. We have a very nervous market and it's the dog days of summer, ... We are short-term overbought so we're giving some of it back with the excuse being Intel.

Investors are taking the easy way out ? they're sitting on their hands. The main confusion is a lack of confidence in just when the economy will turn up and the economy will improve. The prime mood in the market is one of no conviction.

The market hates surprises. But we believe the odds substantially favor that the Fed will not raise interest rates next week, and that the market will take that as some degree of relief, unless they say something nasty. But basically we think we're into a good summer rally.

The market got itself deeply oversold after six months of correction. Now people are looking at fact rather than fiction and seeing the economy has already slowed to a healthy and sustainable rate.

The market was subject to a very normal pause to refresh. Why not ? Bonds have been up big. The market had been up big. We were vulnerable to good news, bad news, no news. The underlying bull market remains very positive.

The market has way overplayed concern over inflation. Greenspan did what he is supposed to do. When things look great, he has to look like he has an upset stomach. When things look bad, he has to be all smiles.

The market has way overplayed concern over inflation, ... Greenspan did what he is supposed to do. When things look great, he has to look like he has an upset stomach. When things look bad, he has to be all smiles.

The market has done a good job of ignoring signs we have bottomed. That's more a ghost of the bear market than any disbelief in the numbers. A dog that's mistreated doesn't trust a hand extended in kindness. This will change.

The market has done a good job of ignoring signs we have bottomed, ... That's more a ghost of the bear market than any disbelief in the numbers. A dog that's mistreated doesn't trust a hand extended in kindness. This will change.

The market has been trying to adjust to signs of a slowing economy and a deceleration in the growth of earnings, not a deterioration a deceleration, ... We were doing better until the election snafu came along and gave a just recovering patient a relapse.

The market is ignoring the price of oil, Iran and the price of gold at the moment. Investors are focusing on the good and ignoring the bad. Lately, that hasn't been the case. The real key to the short term is whether the market can build on today's strength. I'm optimistic but nervous.

The market is going to take a pause to refresh,

The market is a discounting mechanism and typically looks six-to-nine months ahead. But now everyone is so shook up they're not willing to look beyond the end of their nose. What we need is a mood shift, and they (investors) got no supportive therapy from the Fed yesterday (Tuesday).

The long-term trend for the economy and the market remains bullish.

The main impetus behind the selling was the employment figures. Even though we created 193,000 new jobs, which was less than consensus, the unemployment rate falling to 4.7% points out that the labor market is very tight and this has conjured up concern the Fed may not stop at 4.75% on Fed funds but maybe it will go up to 5%.