Friday, October 12, 2007

Tech on Fire

Technology stocks have been on fire in the past couple of weeks. If you don't believe me, take a look at the charts for Google(GOOG), Apple(AAPL), and Baidu(BIDU). I'm not too interested in buying any of these names though. Take a look at yesterday, when Baidu got a negative analyst note. We saw the entire market turn upside down in a matter of minutes. It seems these stocks are just waiting for someone to say sell, but if it doesn't happen, they will move higher. No question about it.

So in the mean time, I think investors should be cautiously bullish. Stay on the long side until the market tells us not to. And be aware that this can come at any moment.

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