Bill Meehan
Bill Meehan
William Thomas Meehanwas an American Major League Baseballpitcher. He played for the Philadelphia Athletics during the 1915 season...
amount earnings estimates fear great growth justify next revenue stocks technology
There is not enough earnings and/or revenue growth to justify valuations in a lot of the technology stocks and there is a great amount of fear that analysts will be slashing away at their earnings estimates for next year.
asia expected people question technology
People expected that Asia was pretty much over, and things would get better over the better part of the year. Now, that's called into question here, and technology is a pariah now. And I think there's probably some more downside, near-term, for technology.
hold last people rethink seem shoot since stocks tech thesis year
People that are overexposed in tech should rethink the thesis that many seem to hold that since stocks are down (significantly), they are going to shoot to the sky. Last year was an anomaly.
analyst favorite good open pattern pumping reason repeated sign stocks tech today virtually
It's a pattern that's repeated virtually every day. At least today there was a reason to open higher. This is not a good sign that every analyst was out pumping up their favorite tech stocks and here's the result.
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.
cap concerns cross favorite large stocks talking tech
There are analysts out there talking up their favorite tech stocks. On the other hand, there are still concerns that large cap tech stocks may be doing some pre-announcements, so there are a lot of cross currents.
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.
calendar companies economic elections fourth greater importance next quarter technology year
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.
cut everybody fed hearing knows lower people rate shock start talk
Everybody knows the Fed is going to lower rates. You'll start hearing people talk about more than a 50-basis-point (a half-percentage-point) rate cut -- that wouldn't shock me.
appreciation bias change contrary earlier exuberance fed hoping increased likelihood market neutral opens people
Contrary to logic, people were hoping the Fed would change their bias to a neutral stance. Part of the exuberance earlier was an increased appreciation of the likelihood that we would have a president-elect before the market opens on Monday.
fear
There's not enough fear and there was too much hope.
saying
Saying the right thing and doing the right thing are different.
beginning damage economy fact increasing optimism reach saw stages
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.
action basis bear built bulls cut fed hope hopes prayers rally shoulders totally
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.