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Technology Stocks : Intel Corporation (INTC)
INTC 49.13+0.8%1:29 PM EST

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To: Jim McMannis who wrote (164899)5/4/2002 11:10:24 AM
From: Road Walker  Read Replies (1) of 186894
 
Jim,

re: I think many of these traditional growth stocks are still overvalued and money will flow from them into smaller, value type stocks.

That seems to have been happening for quite a while.

Actually the last tech sector to really tank may be the semiconductors. While the NASDAQ composite has been down about 1/3 or more since November 2000, the $SOX has remained about flat (excluding the 9/11 reaction and rebound). That is, until this past week, when it seems it have have broken long term support.

stockcharts.com[w,a]waolyyay[pb50!b200][vc60][iUp14,3,3!La12,26,9]&pref=G

I agree that the market is telling us that the recession is not over. I also believe that if things don't get real bad, we will have a very respectable business upgrade cycle starting within the next six to twelve months. All those Y2K PC's are getting pretty long in the tooth.

Next week should be very interesting for the markets.

John
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