Is this "old economy" thingie just a fad or for real? -
We are seeing a tremendous resurgence of old economy stocks, banks, drugs cos (real ones), industrials, airlines, retail, utilities, retail, etc making very strong moves the past few days while the former darlings, the techs, nets, etc have been doing the old swanee dive. Is this just another value bounce or the start of a real trend?
IMO, i think this trend will have legs. These stocks have been beaten down TOO much for TOO long. Right now the techs are being treated like the old economy stocks were for the past year and a half. Techs will come back strong, though i think there will be some more gut-wrenching downside, but a prudent investor, trader or whatever, would have some of his/her money in these old economy sectors. prudent= wants to make money. jmho. larry |
