Earnings growth for the entire industry has been about 12 to 15 percent a year, and will probably not go much higher, the analysts add.

"He was very much of a mind to keep it," the analyst added.

Other analysts added that there were some domestic factors behind the problems in the market.

Another analyst added, "I think everybody is pretty sure it's when, not if."

Foreign interest rates, off their peaks from a year ago, will fall further, the analysts added.

"They've just gotten used to two years of high prices," the analyst added.

British stocks are especially attractive for Americans, some analysts add.

"It's a terrific company going through a difficult period," the analyst added.

Some analysts think so, and are adding oil service companies to their "buy" lists.

"Now people realize it's only going for $100, with completion in six months," the analyst added.