Sell the news was the theme of the day in tech land. Number of tech stocks have been reversing in last couple of days. But so far the sell off is pretty orderly. The dip buyers should jump in on some stocks soon. Profit taking is hitting groups which were on the run so far. Tech has been hit the hardest but other sectors are holding on well. I am watching to see if this weakness spreads to other sector.
The task is cut out for dip buyers. So expect them to be at work soon.
There are many stocks which have not been participating in this rally so far and they are the one to keep an eye on during the earning season. Some sectors like steel and iron look pretty attractive.
2 comments:
Not that I take what he says to heart, but Cramer's call yesterday was to sell tech until August. Looks like that's what they are doing today.
interesting discussion on margin debt:
http://bigpicture.typepad.com/comments/2007/01/margin_debt_par.html
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