Cramer is now a Bill Meehan fan. From this morning's RealMoney:
"This morning, catching up on Bill Meehan's posting from Friday, I was struck by exactly how darned right Meehan's been, and how important it is to pay attention to his thoughts.
Through much of last year, Meehan was unshakably bearish on technology, not wanting to bite at Nasdaq 5000, 4000, 3000 or 2500. But when we started flirting with 2000, Meehan changed posture. And when we were within the whites of the Fed's eyes on the rate cut, he said it was time to pull the trigger.
When the Fed eased he went full throttle on all stocks, including tech, and backed it up unequivocally on that miserable Friday selloff after the ease. The one I call "The Last Great Buying Opportunity."
Why am I pointing all of this Meehan history out? Because I'm a huge believer in finding people who get it right and promoting the heck out of them, because there are so many people who get it wrong.
Let's contrast Meehan with Abby Joseph Cohen, everybody's favorite guru from Goldman Sachs. While Cohen went somewhat negative on tech in March, she was massively constructive all of last year. Meehan, on the other hand, called every one of the tortured Nasdaq rallies bear rallies in which you could lighten up. He was totally consistent and kept your capital intact. Cohen, on the other hand, would have had you ride out the Nasdaq through its worst year since 1929. I think 2000 was a credibility check year, and in my eyes, Cohen lost hers, while Meehan kept his.
I know there are times when we look at the Real Money-TheStreet.com complex myopically, checking out only those who are most heavily promoted, or who tend to hog the cyber-inches -- including yours truly. I can't tell you what you should read; that's your time and inclination at stake.
But I can tell you that I read every word of Bill Meehan. Which is why I was so thrilled when RealMoney picked up Trading Track.
Great job, Bill. You nailed this one."
By the way, if you want constant intraday trading commentary by Bill, you might want to check out RealMoney at TheStreet.com.
/BSG |
