Just an observation. Monday's column, entitled "What Happened to Tech Stocks?" seemed to strike a chord with readers. It zoomed right up to the most read article on the Barrons.com site early Tuesday. Could it be that too many people were too enamored with tech and the prospects for it leading a recovery?
I'll take that as a sentiment indicator and it is bearish tech. Why bearish? People were worried enough to read it but not in agreement enough to email it to a friend. Typically, my "email" ranking beats my "read" ranking.
2 comments:
Tech has been a reoccurring theme on CNBC for months now, so it wouldn't surprise me if the public was enamored with the sector. Tech has great balance sheets, people will buy tech ahead of hiring people, Cramer's internet tsunami, tech leads etc etc etc.
The thing is these were the same reasons tech was not going to collapse during 2008.
See my blog to view some interesting charts of the DOW, NASDAQ boom and bust.
http://shawnseverin.blogspot.com/
Thanks.
Shawn
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