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.
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
We no longer and we haven't had a declining rate of inflation. Why anybody would think the Fed would be considering easing now is hard to believe.
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
The market is consolidating its recent gains.
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
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
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