JJC: How do we make sense of today's tech-fueled rally?... And, more importantly for the purposes of this show, how do you make some money off of it? For the last couple of weeks, tech was trading as though it had been mauled... the market abandoned it to a gruesome death... But, today, we get some strong news from IBM (IBM) and, all of the sudden, tech stocks came roaring back from the grave, dragging the industrials higher along with them... genuine pin action. How did it happen?... How can you look for some profit?... . . . . . The market didn't rally 172 points just because IBM had a great quarter... You see, I think this tech rally was long overdue... The truth is, nothing was wrong with tech in the first place... As these stocks got knocked down, day after day, there was never really the bad news to justify these declines... Tech got pushed down, because investors panicked and sold the good ones with the bad... Since there was never any good reason for tech to go this low, the moment we got one good reason for tech... well, all of tech rallied. But not enough! So, in honor of IBM... we're inaugurating a week-long series featuring overlooked tech stocks, because tech is en fuego (i.e., on fire), and I believe it's going to stay that way for a while... . . . . . But where do I start?... Well, we already have Corning (GLW*)... I've done GLW* so many times... GLW*, today, up 66 cents. Remember, GLW* already told you it was better-than-expected, but the stock is not up... I have Hewlett-Packard (HPQ*) in my charitable trust... HPQ*, last week, said that the quarter was good, but the stock is at $46, right where it left... So those obviously work, right?... These are two companies that just told you things are good, and yet the stocks aren't up... and their quarters - I believe - will be terrific... You know, as I told you last week, I like Intel (INTC) down at this level. I expect an upside surprise from Microsoft (MSFT)... and, of course, I have always backed my three-quarters of my Four Horsemen... Research In Motion (RIMM), which is down way too much... It's not a Garmin (GRMN) play, believe me... You know I like Apple (AAPL). I hope you bought that today, ahead of the big MacWorld... And Google (GOOG) I have never backed away from. It was great to see Harry Lang (i.e., fund manager of the now-publicly-available Fidelity Magellan Fund) talking positively about GOOG. He's going to get a lot of money in when Magellan opens, and he's going to be doing some buy, buy, buying of that great name... Talk about picking a top in the market. He's the best contrarian indicator around. I hope he doesn't say sell tomorrow.
'You know, as I told you last week, I like Intel (INTC) down at this level. ' what an idiot... didnt he learn from his crox disaster never to hold nasdaq stuff thru the report???? this is from a guy who claims its all about capital preservation!!!