After this week, this is to be expected, especially on a Friday a lot of people want to book profits ahead of the weekend.
More Quotes from Charles Payne:
The key word coming into the week was fear and that fear didn't turn to panic so the key word going out of the week is hope.Charles Payne
Historically, these types of declines haven't really been bad news for the market because they force the Fed to take action.
Charles Payne
Historically, we know that if they go down, they won't stay down very long. Remember America Online ( AOL Research , Estimates ), and how people bought every time they had trouble It's a classic buying opportunity.
Charles Payne
The recovery is going to take longer than anyone initially hoped for, and (Nokia) is the biggest name to warn so far. I think it was wishful thinking that the turn would happen overnight. But it's not a bad assumption to believe that things are going to get better -- it just takes time and maybe investors haven't been realistic.
Charles Payne
I would be surprised if some smart managers don't go near some of the exiting stocks, particularly on weakness in stocks like Unilever -- well-run and has been able to grow through acquisitions. But I don't think anyone can construe this as a no-confidence vote on these stocks that are cut, but just as a different route by the SP committee,
Charles Payne
It's amazing. It just seems that Bush and the administration did not really get the message. We know that Republicans are the get-tough party, and they're going to ask for longer prison terms, but he hasn't addressed the problems of the accounting issues game itself.
Charles Payne
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