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.
More Quotes from Bill Meehan:
I think there was a lot of optimism built into the market that a soft landing is coming and the Fed will be easing. The decline in the unemployment rate cast doubt on that scenario happening. The Fed continues to be concerned about the potential for inflaBill Meehan
We got a little bit of a pop from the Supreme Court ruling. I think some of the strength we've seen was discounting a Bush presidency. Obviously the uncertainty was not what was hurting the Nasdaq -- earnings would be impacted by a slowing economy.
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
It's a pattern that's repeated virtually every day. At least today there was a reason to open higher. This is not a good sign that every analyst was out pumping up their favorite tech stocks and here's the result.
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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