Time to buy Tech?

Well friends, the rally is here. All those safe investments like property, oil and defensive moves have/are bombing. Even better, the DOW closed at a record high again today.

So what's going on? What's changed since the major downturn in May? Gas, Gas, Gas. I'm sure you felt the heat filling up that Hummer of yours or perhaps you made the Prius move? Well my friend, it was worse than you thought. As oil got driven higher by the speculators and hedge boys the price of everything went up. EVERYTHING, because everything you buy had to be shipped to you, your town, your local five and dime, the factories that made it all. Right down the line every link in supply chain added costs and made you, the consumer, eat the difference.

Then an amazing thing happened, Wall Street look around, realized oil was overvalued and the rest is music to your gas-guzzling ears. Remember those days when every bit of bad news drove oil up? Well this week OPEC got worried they would only make a few trillion and decided to cut oil production. What did Wall Street do? Shrug and drop the price another dollar. Oil is currently hovering around $58 and word on the street says it will make it down to $56. So what are you going to do with your extra cash? The better question is what will the bulls and the bears do with their extra cash. That's right, TECH!

Tech is back hard and gaining momentum. Don't take my word for it though. The NASDAQ is up 16% over three months. Over that same period
Apple (AAPL) up 48%
Cisco (CSCO) up 36%
Microsoft (MSFT) up 27%
Oracle (ORCL) up 33%
Motorola (MOT) up 37%

Do I need to go on? OK, OK, hindsight is always 20-20. So check back in three months after the 4th Quarter earnings reports come out and then let me know how my vision is. In the mean time, I know where my money will be...TECH!!!