Al Goldman Selling Quotations

When you get disappointments on companies that are selling at 60, 80, 100 times earnings, you get more room to fall.

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.

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

We are in a state of semi-panic in the markets. A lot of irrational depression and a lot of irrational selling is going on.

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%.

The main impetus behind the selling was the employment figures.