Consumer Electronics Excitement and Silliness

I'm already sick of reading and seeing the new products being rolled out at CES this year. Given what a driver consumer technology has been for the broader economy for the last few years, it makes sense to see the ridiculous hype around this event. And there have certainly been some exciting developments -- I'm excited to see how Slingbox is going to facilitate TV to Internet, for example.

But I can't fathom the silliness that some of the press fawns over as meaningful. For example, so what that Yahoo's (YHOO - commentary - Cramer's Take) got some new mobile initiatives. And?

Regardless, the tech market traded higher again today, and its late-morning rally seemed to spark a broader push higher. By the time tech faded to about flat on the day, the DJIA and the S&P 500 had each bested the Nasdaq by a handful of bps. Mister Softee (MSFT - commentary - Cramer's Take) was the leader in tech when all was said and done as it reversed from morning softness and closed just a quarter from its 52-week high.

I have more stocks I want to purchase, but I'm letting the market throw the pitches it wants to pitch and am being selective in my swings.

I'm back doing the Monday night teaching gig of "The Valuation of Innovation" at Seton Hall for the spring semester. I sure learned a lot by teaching last semester.

See you tomorrow.

At the time of publication, the firm in which Willard is a partner was long Microsoft, although positions can change at any time and without notice.

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Cody Willard is the manager of CL Willard Capital Management, LLC. He is a regular guest on Fox News, CNBC and other networks, and he writes a monthly column for the Financial Times. He is also an adjunct professor at Seton Hall University and the author of TheCodyReport.net, a monthly stock market newsletter. Willard appreciates your feedback -- click here to send him an email.