Bill Meehan
Bill Meehan
William Thomas Meehanwas an American Major League Baseballpitcher. He played for the Philadelphia Athletics during the 1915 season...
actual bulls closer coming earnings expected fears hoping line results warning
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.
air couple internet matter percent stocks
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.
bear blue chips market optimistic people turned
A lot of people have turned much more optimistic that once the blue chips get hit, that indicates the bear market is dead. Valuations are down, but they're still not cheap.
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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.
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There was too much hope built up that the Fed was going to cut by more than 50 basis points. We had a rally in anticipation of Fed action but we are in a bear market. The hopes and prayers of the bulls was totally on the shoulders of the Fed.
cash defensive lighten overweight people raise shift technology
I would tell people who are overweight in technology to use any bounces to lighten up in those areas, raise some cash and shift portfolios into more defensive positions.
change environment normal value
I think we are making a change back to a more historically normal environment and I think value will outperform growth.
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I think that's evidence that a good deal of any weak earnings is priced into the market because the expectations have been lowered by analysts and further lowered by realistic expectations of the Street.
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The overwhelming key will be, as companies report, it won't be as much about what they report but what they have to say about the fourth quarter and 2001.
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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.
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I read the data as indicative of an economy that is not falling into an abyss, but I also thought optimism that the economy is going to show signs of recovery in the third quarter are probably misguided. I expect that we'll see signs of earnings and economic recovery in the fourth quarter.
bear capital certainly clearly degree expect exposure investors less market pare picture signs technology
Clearly there are signs that we are going to see a much less rosy picture in capital investment, and we're certainly in a bear market in technology. I would expect many investors still have not been able to pare back their exposure to technology to the degree that many would like to.
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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 high?and now we've had a couple of earnings warnings.
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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.