Steve,
I would be very worried to stay in the market for tech-stock IF the South Korean situation remained volatile.
Last week was rough because (in addition to ORCL's and QNTM's disappointing results), comments like "$57 bill is not enough to rescue South Korea," "South Korea is not prepared to accept IMF's conditions," and "South Korea has been doing things not accepted by IMF," kept coming. This was grave because of a fear of the world finance order sinking and that tech and multinational stocks would be hurt the most.
But, after Friday's close, IMF chairman has emphatically said the worst was behind us, $57 bil was sufficient, Korea is fully complying with IMF guidelines, etc. Further, Korean leaders (govt and opposition) expressed their resolve to support IMF conditions. This changed the direction of the Korean stocks (up 2.6%).
biz.yahoo.com
biz.yahoo.com
biz.yahoo.com
I thus expect the next week to be good for tech stocks, although I am keeping my fingers crossed.
Sankar |
