Clearly biotech is in the sweet spot. Since earnings are slim to none, disappointments are hard to come by. For the networkers, well, as of yet no one has lost their lunch. It's just too high above the maddening crowd for the cracks to be seen. The big mutual fund behemoths, alternatively, are in trouble.
Tech is so over owned in their portfolios that there is simply no orderly way out.
Trust in human nature. Trust in change as an immutable construct of man and nature as a whole.