Either people are going to reposition away from technology and seek a home in the migration away from technology, which is why you have other sectors moving, ... For those who are tech players, it's going to leave those stocks that may have some concerns over future earnings and it's going to stay there.
More Quotes from Barry Hyman:
I think this last quarter proves out that their business model works versus Gateway, versus Compaq, versus other PC box makers,Barry Hyman
Cisco's story was that inventory concerns and demand driven problems are not fixable as early as Wall Street expected, ... People are understanding the impact of what Cisco said. Wall Street wants to believe things are rosy in that sector and they're just not.
Barry Hyman
There's a little nervousness in the air regarding heightened geopolitical news. The rhetoric from Iran is not helping.
Barry Hyman
The ability of Intel to come out and say a 'no worse than expected' story pleased the market. There are many other corporations in technology that are in that position so that if the slowdown is just a slowdown, there's good upside in many of those issues.
Barry Hyman
It's been a very surprising and volatile last couple of days. Today, speculation came back into the market. We seem to be jumping to a conclusion without an assessment.
Barry Hyman
What I like about today is that all of the main SP sectors are higher, which shows broad strength for the market. And the consumer confidence number suggests optimism about the start of 2005.
Barry Hyman
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