Al Goldman Stocks Quotations

Pfizer's a great company, great track record. The economy is slowing, so I think money is going to see defensive growth stocks like the pharmaceuticals and I really don't care what Al Gore thinks about supposedly big drug companies. We're going to have gridlock in Washington and there's not going to be any radical legislation no matter who is in the White House.

You are getting some long-overdue profit taking in the technology sector, and the cyclical stocks are having their day in the sun.

When bull markets and economies start putting on some age, the bigger-name defensive growth stocks get more attention.

Earlier this year, home-builder stocks were going up like Superman. Today's drop in the home sales report provided a good excuse for managers to finally sell those stocks and lock in some profits.

There's only one reason to buy stocks and that is to participate in a company's growth of earnings and I don't know any sector of the economy that offers superior growth prospects looking out two, three, four, five years than technology and selected Internet stocks. It's been working for 10 years now and I'm not going to buck a trend like that. You buy dips. We had one heck of a dip that reached a crescendo last week and people who bought Friday or early Monday have reaped very nice profits.

The futures are flat this morning. We've had eight days of a good rally. The short-term momentum is still up for Wall Street but stocks are looking extended.

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.