Bill Meehan Quotations

Contrary to logic, people were hoping the Fed would change their bias to a neutral stance. Part of the exuberance earlier was an increased appreciation of the likelihood that we would have a president-elect before the market opens on Monday.

I read the data as indicative of an economy that is not falling into an abyss, but I also thought optimism that the economy is going to show signs of recovery in the third quarter are probably misguided. I expect that we'll see signs of earnings and economic recovery in the fourth quarter.

Clearly there are signs that we are going to see a much less rosy picture in capital investment, and we're certainly in a bear market in technology. I would expect many investors still have not been able to pare back their exposure to technology to the degree that many would like to.

In the past Greenspan has implied market valuations are OK. as long as earnings growth is sustained. But there's a lot of concern valuations are too high?and now we've had a couple of earnings warnings.

There's not enough fear and there was too much hope.

I think it will be to a greater extent a larger problem than most people anticipate. Obviously, it's going to have a major impact on certain industries.

There are analysts out there talking up their favorite tech stocks. On the other hand, there are still concerns that large cap tech stocks may be doing some pre-announcements, so there are a lot of cross currents.

You have to be completely deaf, dumb and blind to think that anything with '.com' on it is your ticket to fame and fortune.

We're going to be winding down (earnings) and more focus will be turning toward the presidential election. However, there's not much one can do since the race appears too tight to call. On a poll-by-poll basis, you could see drug stocks impacted negatively or positively, with tobacco stocks and defense stocks similarly impacted.

We're getting closer to the earnings period, and the bulls are hoping that the actual quarterly results will be in line or better than expected and alleviate the fears that there's another warning coming in every night.