Monday, April 27, 2009

Technically speaking

Tech stocks have been among the leading sectors in the rally since the market low. Currently, the S&P Technology Index is outperforming the S&P/500 by 14% over the past three months. Among these performing stocks are the likes of Corning (NYSE:GLW), Research in Motion (NASDAQ:RIMM), Cisco Systems (NASDAQ:CSCO), and Motorola (NYSE:MOT). Many of these holdings have been recent Stock Trends Picks of the Week.

An exchange traded fund heavily weighted in these stocks is iShares North American Technology - Multimedia Networking Fund (NYSE:IGN). It has traded actively in the past month as weekly share volume is now 5-times it’s previous average. IGN has been Stock Trends Weak Bearish since the end of March and has advanced from $17.35 to its current $21 level since that time. It has had a nice string of weekly higher highs and higher lows. Look for continued price momentum in IGN.

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