Tech has been so weak for so long that no one wanted to touch it. But people are looking at it again. Although the tech picture looked bleak for the last three years, people are seeing that there are going to be survivors, the leaders in the sectors.
More Quotes from Michael Carty:
We're in this confessional period where there's nothing but bad news coming into the market place now and investors have become really cynical.Michael Carty
Technology has been under a bit of a cloud and there's still concerns about the telecom industry, ... I think investors are still very wary of it. They want to see more robust capital expenditure.
Michael Carty
The earnings reports and outlooks have been fairly positive, but I think trade has been kind of muddled recently, with the market wanting to give itself room to breathe after the big run it's had.
Michael Carty
But after three days of selling, I think tomorrow should be a fairly positive open, with the techs a little higher on Microsoft and in response to the action over the last few days, ... We've had a couple of ugly sessions and you're likely to see a little bounce off of that.
Michael Carty
Today, American Power Conversion Corp., woke us up with a fairly bad report, and I think that's what's been keeping everybody bothered,
Michael Carty
This comeback is a very positive sign for the market. When the market is in a bull market phase, investors will start to ignore the bad news.
Michael Carty
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