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RR, Actually, your timing is a bit off. I have been claiming doom and gloom on the techs since Mu was $95, and the market has paid attention to the tune of more than 60 points. And the market definitely paid attention to all the SRAM stocks, to all the DRAM stocks, all the graphics stocks, all the disk drive makers, all the pc boxmakers except Dell, most of the comm tech cos., all the peripherals makers, and most of the software stocks. The fact a very few large names have held up does not mask the reality that tech stocks, in general, have been in a swoon fundamentally and on their stock prices for some time. The fact that names like Novell and Apple no longer make up as big a part of the indices have kept the broad measures from accurately reflecting the true disaster among the mid and small cap names. The survivors are getting fewer and we are seeing defections nearly every week. There is no New Paradigm. It is old Tulip Mania and it is and will continue to die out. MB |
