Bill Meehan Technology Quotations

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.

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.

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.

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.

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.