Barron's ignores the Mighty Q again.
As far as I can tell Barron's mentioned Q exactly three time this week.
First on page MW 10 as follows:
By Dollar Volume
Name/$ Volume/Close/Change
2. Qualcomm/164104556/378/+83 5/8
Second, basically, the same information under "By Share Volume"
And again on page MW 5:
Technology Stocks Roar, and the Nasdaq Soars.
....Indeed, the Merrill Lynch Technology 100 Index is up more than 80% since the year's start. The top performers: Qualcomm, a wireless communication technology company, which has exploded by 1,369%; RealNetworks, which develops software to deliver video and audio over the Internet, up 657% and JDS Uniphase, which makes products for the fiberoptic communications market, has jumped 448.75%.
But despite its nosebleed heights, the Nasdaq suffers from the same lack of broad-based support that's apparent in the S&P 500. Of the 3,900 Nasdaq stocks in Merrill's data base, 47.1% are up so far this year and 52.2% are down, says Richard McCabe, Merrill's chief market analyst. That's not much different from the S&P 500, in which 47.4 % of the stocks are up and 52.4% are down, or the New York Stock Exchange, where 39.2 % of the stocks are up and 60.1% are down.
There is scant signs that the tech train may be slowing. On Friday, the Nasdaq managed to rebound late in the day to its latest record, shrugging off some concerns about Dell Computer's earnings and Merrill Lynch's downgrade of Intel."
So, if overexposure is a sure sign of a top, we're safe as always.
Fred |
