The story of the week has been the rally in technology stocks, particularly in the stocks of networking, semiconductors and Internet companies. The end of the earnings season appears to be giving way to the portfolio adjustment process. We are nearing the end of the first quarter earnings release period. A Mixed Start Technology stock traders were a bit nervous today. Today's action saw a decided lack of conviction from bears and bulls alike.
Spring is here.
The sideline cash jumped to the floor of the NYSE today lending further credence to the theory that the triple symbol stocks may have put in a significant bottom last week. Only hindsight will tell us for sure when the market finally reached a bottom. The general Investor's Intelligence sentiment indicators are still bullish. It may be March but the bears went back into hibernation for the second consecutive Monday. According to the classic Carly Simon song, anticipation is something that is making us wait, but market participants are not waiting.