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Buy tech??

Started by pkamm, 07/15/2008 04:39AM
Posted 07/15/2008 04:39AM | Edited 07/15/2008 04:40AM Opening Post
Couldn't help noticing the Nasdaq composite is at the long-term oversold end of its 30-year channel on the log chart (again), while it's holding up better than financials. I also notice that NOBODY talks about tech stocks anymore which may be useful from a contrarian standpoint. However it is a little disquieting that it reached this oversold extrema after just a few months where previous bottoms had decades separating them. Any takers?
Posted 07/15/2008 08:42PM #1
The SP500 is now similarly at a long-term oversold extremis. Also the VIX crossed over 30 today, and somewhere between 30 & 40 seems to be usually where it 'peaks out' under periods of stress lately.