But the slicing and dicing of technology stocks went too far, many managers say. The farther down you get, the closer you know it is to a bottom,'' says James Oelschlager, manager of Red Oak Technology. Oelschlager, who does little trading, says he's adding to his favorite positions. The fund's biggest positions are Ciena, an optical networking supplier, and Juniper Networks, which makes network routers. But weaker Internet names aren't the place to go bargain hunting, he says.
Lower rates make it cheaper for companies to borrow and invest.
They also make stocks look more attractive than investments that pay fixed interest rates, such as bonds or bank CDs. Easier earnings comparisons . Tech companies had tremendous earnings gains in the first quarter of 2000, so many companies' earnings gains won't look terribly impressive this quarter. But most companies' earnings in the second and third quarter 2001 should look good compared with lackluster 2000 earnings. Cash on the sidelines .