Filtering a lines from a list of keywords

I have massive log files from which I want to filter out lines containing phrases out of a list. So, I have put the words in an array and for every line, I have to go through a foreach loop.
Something like
my @phrases = ( 'phrase1', 'phrase2', 'phraseN');

    foreach my $phrase (@phrases)
        print if (/$phrase/);
However this is very slow.  Any way I could make it fast?
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one way may be to precompile the matches

$_  = qr/$_/ for @phrases;

another way may be to combine the the phrases into a single search
my $phrase = qr/@{[join'|',@phrases]}/;
but then you would only print once if there are multiple matches, so you may also want to change the print to
print for /$phrase/g
$phrase = qr/@{[join'|',@phrases]}/
may need to be modified if any of the phrases contain metacharacters

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see also
perldoc -q "How do I efficiently match many regular expressions at once"
farzanjAuthor Commented:
Hi Ozo,  this is really great.  However, I have a confusion.  I am trying to benchmark both the methods and the results were different.  As I printed the search strings, there appears
In front of my phrases -- once in each the phrase in $_  = qr/$_/ for @phrases; method and only once in the second method like

Please guide.
farzanjAuthor Commented:
Thanks for all the help.
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