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.
More Quotes from Bill Meehan:
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 June meeting.Bill Meehan
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 is probably more important to the group as a whole.
Bill Meehan
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 highand now we've had a couple of earnings warnings.
Bill Meehan
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 unscathed.
Bill Meehan
It's a bit much to expect we're going to rock and roll to new highs. But I don't see an extraordinary amount of downside, so investors shouldn't worry too much about the ups and downs.
Bill Meehan
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