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Bill Meehan  Quotes
We told them in between periods that we needed to establish ourselves, especially after the second period where KP had scored a goal and it looked like they had a chance to capture the momentum....

—Bill Meehan

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I think you’ll find buyers coming in, with a focus on the tech stocks that everyone knows and loves.

—Bill Meehan

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Focus
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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...

—Bill Meehan

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I think the strong snap-back we’ve seen might be a bit unnerving. It depends on whether (Fed chairman) Mr. Greenspan wants to shake things up.

—Bill Meehan

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The perennial favorite is technology because whether you think the economy is slowing, growing, or somewhere in between, there’s a great belief that these companies in the new information age will generate good earnings growth...

—Bill Meehan

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As we reach the end of the quarter, there’s increasing optimism that the damage is done. We saw the beginning stages of the fact that when the economy slows, there are no sectors that go...

—Bill Meehan

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Even though the Fed has tightened, it’s not done a whole lot in the way of weakening the housing market.

—Bill Meehan

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People expected that Asia was pretty much over, and things would get better over the better part of the year. Now, that’s called into question here, and technology is a pariah now. And I think...

—Bill Meehan

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Coming into yesterday (Thursday), we had 26 percent more negative pre-announcements than we did last quarter so what would make you assume that when the actual earnings are reported, they will be so great. In...

—Bill Meehan

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It’s just a minor piece of the puzzle, but it does show the continued strength of imports – an excessive demand is a problem for the Fed.

—Bill Meehan

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Strength
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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...

—Bill Meehan

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The problem there was that they said the next quarter was going to be impacted by changing accounting procedures and their guidance going forward was not particularly upbeat.

—Bill Meehan

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Accounting
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Outside of technology, the performance of the market is very healthy. There seem to be a lot of questions about how strong or not business in technology will be so there’s more interest in the...

—Bill Meehan

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A lot of people have turned much more optimistic that once the blue chips get hit, that indicates the bear market is dead. Valuations are down, but they’re still not cheap.

—Bill Meehan

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People
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You might see some relief (on Wall Street) after the G7 meeting.

—Bill Meehan

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I don’t think it’s going to help the economy very much, and it’s certainly not going to help corporate profits.

—Bill Meehan

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There are still too many people that have let greed remain in control and have yet to succumb to fear. There are too many people calling bottoms all over the place. People are too worried...

—Bill Meehan

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Control
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The sentiment reading still indicates that we haven’t seen any bottom. People are still too complacent.

—Bill Meehan

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The economic calendar and what companies have to say about how their fourth quarter and next year expectations are will be critical, especially in the technology sector. That’s of much greater importance than the elections...

—Bill Meehan

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If you were interested in getting aggressive in tech stocks, you wouldn’t want to do it in front of a potential bomb. But I don’t think there’s going to be a major shock (from Cisco).

—Bill Meehan

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We’re just keeping some pressure on the more cyclical stocks which is adding to upside on the technology front. I suspect the recent beatings which have been somewhat controversial, in the sense that analysts are...

—Bill Meehan

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Technology
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Having cash all the time to some degree makes a certain amount of sense. I don’t ever advise people to be 100 percent in or 100 percent out.

—Bill Meehan

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The game wasn’t as close as the score indicated. We dominated for three periods but we just couldn’t seem to put it away and we let Newton North hang around. When you do that, you...

—Bill Meehan

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Saying the right thing and doing the right thing are different.

—Bill Meehan

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Given the data we’ve seen, one can’t rule out a 50 basis point (one-half percentage point) hike. We’re not likely to see the economy slow to levels the Fed feels comfortable with without the Fed...

—Bill Meehan

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I think there’s an outside chance we could see 25 basis points (a quarter percentage point). But I think it’s a long shot at this point and time. What they (Fed) say is going to...

—Bill Meehan

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The market is always dealing with uncertainty, and this particular piece of uncertainty is not terribly complicated. There will be a President Bush or a President Gore, and neither will have a strong mandate from...

—Bill Meehan

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I don’t think it’s the end of the bull market of the 90s, but it looks like we’re in for some stormy times in New York. The market tends to go to the extremes. A...

—Bill Meehan

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DuPont is the first of the Dow components to warn that things are not that enticing and, indeed, energy prices do mean something.

—Bill Meehan

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Energy
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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...

—Bill Meehan

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The problem is (Cisco) was the big focus of attention. It’s not good when you get positive news and there’s (little) response. I don’t think it bodes terribly well for the tech group.

—Bill Meehan

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

—Bill Meehan

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Don’t confuse weakness in the market as indicative of proof that the economy is coming apart at the seams. We’re not in a freefall, economically speaking, and the technology sector has problems — we all...

—Bill Meehan

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I think it’s just people doing some positioning ahead of the end of the quarter and taking advantage of the pullback.

—Bill Meehan

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People
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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...

—Bill Meehan

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If they (the Fed) had any plan whatsoever, they wouldn’t be trying to micro manage the economy and target the stock market like they have been.

—Bill Meehan

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I don’t think that an increase trend in inflation is going to be very positively viewed by the market, and so many believe not only that the inflationary outlook is good, there are many out...

—Bill Meehan

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Inflation
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Everybody knows the Fed is going to lower rates. You’ll start hearing people talk about more than a 50-basis-point (a half-percentage-point) rate cut — that wouldn’t shock me.

—Bill Meehan

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A modest pullback in warranted.

—Bill Meehan

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A lot of air has come out of the Internet stocks, but we have to put it into perspective, some of these stocks are up 1,500 percent or so in the matter of a couple...

—Bill Meehan

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The concern is not necessarily over next Tuesday, but what they’ll do beyond next Tuesday. If the market rallies pretty sharply, Mr. Greenspan may have in his pocket the ability to move rates before the...

—Bill Meehan

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The market is having a little trouble making up its mind. We’ll probably waffle around a little but the tone of the market should improve as the earnings continue to come in.

—Bill Meehan

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I think we are making a change back to a more historically normal environment and I think value will outperform growth.

—Bill Meehan

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I think a lot of people had anticipated May sales would be weak, which is a further sign that the economy is slowing. In general, the outlook for what the Fed is going to do...

—Bill Meehan

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There are a lot of conferences scheduled and there we’ll get some (indicators) within the technology group.

—Bill Meehan

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Technology
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I don’t think we’re in for Armageddon, but there’s not going to be any visibility on earnings. So we’ve got months of trading fun and investors can go to the beach.

—Bill Meehan

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Everyone expected the unemployment rate to slip to 4 percent. It appears the Fed is a lot more afraid of the market than the market is afraid of the Fed.

—Bill Meehan

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Unemployment
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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...

—Bill Meehan

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It seemed to me that Wall Street analysts fired all their cannons this morning in defense of technology and look at the result. Some of these stocks will get bailed out if they significantly beat...

—Bill Meehan

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Defense
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We got a double dose of good news. The Yahoo! revenues and earnings were better than expected, helping to pump some life into the dreary internet group and we continue to get a trickling of...

—Bill Meehan

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News
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