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.
More Quotes from Bill Meehan:
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
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
I think you'll see healthier and broader advances in the market. Now is the time for optimism.
Bill Meehan
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 second-quarter earnings.
Bill Meehan
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 Jumble Shop would be one place where we'd sometimes accumulate down in the Village. I think it might be just a place that's unknown that was right around the corner from wherever it was that we met.
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That's just the way this business works. You're a reliable commodity.
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