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 of years. I think there is more downside.
More Quotes from Bill Meehan:
People are still in love with technology. There are enough signs now that the market is oversold and we could get a bounce but it will be limited. It's really a traders market except for individual opportunities.Bill Meehan
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
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 know that.
Bill Meehan
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.
Bill Meehan
Unless you see substantially weaker growth and low core inflation, if energy prices remain high and the labor market remains tight, there are a lot of people who expect the next Fed move to be an ease.
Bill Meehan
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 month ago everybody saw everything as being perfect. On the down side, we'll see everyone saying everything is terrible. We're probably somewhere in between.
Bill Meehan
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