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This column was originally published on RealMoney on Feb. 27 at 3:24 p.m. EST. It's being republished as a bonus for readers.

Nuttier things have happened, but when you take away the oil stocks and the golds and you decide that housing's no good, that frees up a goodly chunk of money. Guess where it is being redeployed.

That's right, technology.




finally moving off the $13 dime. How about



beckoning to leave the teenagers?



, at last, is acting like




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. And get this: I believe next up are the semi capital equipment stocks.

I hesitate to say what could be behind all of this goodness. Certainly not the elusive Chinese telecom contracts that

The Wall Street Journal

writes up. (



is the real winner there, I believe.) And not the consumer. He's dead, remember?

No, I believe it's because we have a group that hasn't moved in ages and that is no longer as expensive as it was. You can have EMC and Cisco go up 3 points and none of the value police will arrest anybody. Would anyone mind if



went to a 14 multiple from a 13? Didn't think so.

I have to tell you that it is quite rare to see this group as


as it is. But some of it is because a bellwether like



just caught a break from



mess-up with PlayStation and a bellwether like



stopped going down after multiple estimate cuts. When the majors stop bleeding, the minors can start growing again.

I think tech's changing, right now, for the better. Hmm, next thing you know I will like

Sun Micro






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