Pulse: A Tougher Economy Means Tighter Value Standards for High-Tech Stocks

High-tech values and the prospect of lower interest rates faced off this week against the reality of constricting macroeconomics and information technology budgets.

Reality won and the Nasdaq Composite continued its shrinking routine.

"In a contracting environment your [value] standards become much tighter. In a loose environment, your standards become wide. This is a decelerating environment," said Scott Turkel, managing partner in TCM Partners. ...