The productivity number came in better than expected and there were fewer jobless claims than forecast.
More Quotes from 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
We have a very nervous investment environment. The excuse is bond rates are up and there is increased concern about the financial futures market, which appears to be predicting three more rate hike for the Fed funds.
Al Goldman
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.
Al Goldman
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.
Al Goldman
There's been more blood being let in the sector than I've seen in long time. Everybody and their shoe shine boy knows we're highly valued in the sector.
Al Goldman
The sector is notorious for over-reacting - both up and down - and now we are getting a little realistic. But I think the buying opportunity is going to be sooner rather than later.
Al Goldman
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