This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Long-Neglected Tech Ready to Trend Up

Editor's Note: This is a bonus column from Gary B. Smith, whose commentary usually appears only on RealMoney . We're offering it today to TheStreet.com readers. This column was originally published on RealMoney at 8:30 a.m. EST Tuesday. To read Smith's commentary regularly, please click here for information about a free trial to RealMoney.


I am not by nature a watcher of big events, a forecaster of future trends or one who thinks about the macro-environment.

However, since I do a fair amount of TV, and these topics are discussed, I've got to have at least some opinion on The Future.

Of course, you're probably not interested in my fundamental view, and I can't blame you.

But my fundamental view matches up perfectly with my technical view, and in that regard, I'd take a serious look at the tech sector.

I say this for a few reasons:

One, it's a sector that gets little respect right now. It's all oil, all the time, even though -- as noted recently -- I think that ship has sailed.

But ask most "experts" about tech, and they've pretty much written it off as a sorry chapter of the late '90s.

Two, while most indices are off a little this year, the Nasdaq has taken a major 8% hit, and it has been oversold for a while.

Finally, despite the "death of tech" notices, all that the Nasdaq has really done is work off the big up-move that started in '03.

That's normal and a requirement, if we're going to eventually move higher. And higher is where I think we're going.



Today, charts for the Dow Jones Industrial Average, Bluegreen (BXG), Parker Hannifin (PH - Get Report), Sycamore Networks (SCMR - Get Report), Taser International (TASR - Get Report) and Phazar (ANTP).








Charts produced by TC2000, which is a registered trademark of Worden Brothers Inc.


And that is the final word from Wisteria Lane, where much to my dismay I've been sucked into the "Desperate Housewives" vortex. Once you start watching, you can't turn it off!

Please note that due to factors including low market capitalization and/or insufficient public float, we consider Bluegreen and Phazar to be small-cap stocks. You should be aware that such stocks are subject to more risk than stocks of larger companies, including greater volatility, lower liquidity and less publicly available information, and that postings such as this one can have an effect on their stock prices.

Gary B. Smith is a freelance writer who trades for his own account from his Maryland home using technical analysis. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Smith writes a daily technical analysis column for RealMoney.com and also produces a daily premium product for TheStreet.com called The Chartman's Top Stocks -- click here for a free two-week trial. While Gary cannot provide investment advice or recommendations, he invites you to send your feedback to gsmith@thestreet.com.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
SCMR $0.38 0.00%
PH $124.74 0.00%
TASR $31.87 0.00%
AAPL $132.54 0.00%
FB $80.54 0.00%

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs