There was a lot of disappointment about revenue. It's especially true for technology stocks - if you don't have revenue growth, people start to question (value), and 10 percent doesn't cut it.
More Quotes from Bill Meehan:
Investors are less concerned about technology valuations and more concerned with finding places to put money that won't have earnings disappointments.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
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
The economic calendar and what companies have to say about how their fourth quarter and next year expectations are will be critical, especially in the technology sector. That's of much greater importance than the elections situation.
Bill Meehan
The market is having a little trouble making up its mind. We'll probably waffle around a little but the tone of the market should improve as the earnings continue to come in.
Bill Meehan
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