This is all Greenspan. He's made it very clear that the Fed will go to neutral bias.
More Quotes from Bill Meehan:
Outside of technology, the performance of the market is very healthy. There seem to be a lot of questions about how strong or not business in technology will be so there's more interest in the 'old economy' stocks.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
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
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 think small investors should probably wait until valuations are more reasonable in the technology stocks.
Bill Meehan
A lot of air has come out of the Internet stocks, but we have to put it into perspective, some of these stocks are up 1,500 percent or so in the matter of a couple of years. I think there is more downside.
Bill Meehan
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