The Bear Phase Is Over

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Enough is enough. We think that if Yahoo!(YHOO Quote) blows up it might go up and we are sick of the raids on Sun Micro(SUNW Quote). So we are going long both.

Don't get us wrong. We hear the pawsteps of the bears. We know about some report that says Sun has some accounting problems. We think that's a pack of lies. Sun's accounting is fine. We hear that the orders may not be on fire for the first quarter. But first quarter is a long way away (in stock terms).

We know that Yahoo!'s near-term business might be problematic. Heck, it wouldn't shock us if Yahoo! preannounced a shortfall and lowered numbers for next year.

But after the Cypress(CY Quote) and the LSI(LSI Quote) and the Xilinx(XLNX Quote) and the Intel(INTC Quote) blow-ups, I'm now thinking you have be long ahead of a Yahoo! blow-up or a Sun Micro negative call. If you wait, you miss the bottom.

Once again, I reiterate that the bear phase is over. This rally looks like the real deal. It has the financials and the techs and the drugs all up. Maybe we bounce down a little off NDX 3000, but then we just reload and go through.

Sorry to be so unabashedly bullish. But nobody else I know is, so it seems fine with me.