I consider this event as critical, if not more economically damaging, as Sept. 11, 2001. We have no idea what the extent of the damage is down there, and we may not know until next week.
More Quotes from Paul McManus:
The bulls aren't running but they're stamping their feet, ... (The news) heartened a market clutching at anything that even looks like good news. With fundamentals remaining the same, we're not looking at a sustainable rally.Paul McManus
In general, most companies still have trouble passing on price increases, so as result, they're going to have to continually reduce their costs of production and that means their use of raw materials and the amount of people they hire and so on.
Paul McManus
If you can't hide in drugs, where can you hide ... Drug stocks have been dependable, a good defensive play, a good place to hide, and now this.
Paul McManus
I thought that we were more patient with our offense in the second half compared to the first which was important.
Paul McManus
People are saying, 'I don't know what's going to happen, but I'm going to wait around and see what the Fed does,' ... When everyone is uncertain, you're going to get a lot of volatility.
Paul McManus
Hope is wrestling fear in the market right now, ... If Greenspan's upbeat comments...cut the odds of another rate cut next week, his optimism probably had a greater effect on investors than a quarter-point cut would have had anyway.
Paul McManus
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