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Letter "B" » Bill Meehan Quotes
«We've had a pretty good run in the semiconductors recently and I think a lot of people decided to take some profits. There wasn't much going on when it was going higher. Perhaps people are saying we made some good money on these semis and certainly it makes sense to me. I wouldn't trade this market until I see what the Fed says.»
Author: Bill Meehan
«I think (investors) are going to be looking at how the market has performed and what the sector rankings are. I think that some of the recent gains that have come to a bit of a stall are probably a function of...the notion that once people come back from Labor Day, we should have a pretty good rally so they just wanted to get positioned ahead of that.»
Author: Bill Meehan
«There's no concern about what the Fed is going to do so the primary focus is going to be on pre-announcements and company guidance for the second half. We've had quite a few multinationals reporting that the weakness of the euro [is] negatively impacting their earnings and I think we're likely to continue to see more of those.»
Author: Bill Meehan
«People are just a little bit concerned that stocks they hold may announce any day because, if you are doing business anywhere outside the U.S., the euro is certainly going to have a negative impact.»
Author: Bill Meehan
«It seemed to me that Wall Street analysts fired all their cannons this morning in defense of technology and look at the result. Some of these stocks will get bailed out if they significantly beat expectations over the coming weeks but I also suspect there may be some further warnings announced. We're at significant risk of companies guiding analysts lower in terms of the fourth quarter and next year.»
Author: Bill Meehan
«What you have here is a revaluation of the technology sector to more reasonable levels, rather than a mass panic.»
Author: Bill Meehan
«Coming into yesterday (Thursday), we had 26 percent more negative pre-announcements than we did last quarter so what would make you assume that when the actual earnings are reported, they will be so great. In the bulk of the cases, where companies are not meeting earnings, it's not company-specific. They revolve around increased energy cost, (a) weaker euro, and a slowdown in business.»
Author: Bill Meehan
«Goldilocks is dead and the Three Bears are in the process of consuming her.»
Author: Bill Meehan
«It's been typical for the market to rally into an FOMC meeting. You can't ignore it (the rally) but a lot is going to depend on the market's response to the Fed meeting tomorrow. I'm watching and waiting.»
Author: Bill Meehan
«Don't confuse weakness in the market as indicative of proof that the economy is coming apart at the seams. We're not in a freefall, economically speaking, and the technology sector has problems -- we all know that.»
Author: Bill Meehan

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