Time To Jump Into Techs?
June 4, 2008

  We have mentioned several times in recent weeks that the NASDAQ 100 Index (QQQQ) has been outperforming the S&P 500 Index and Dow Jones Industrial Average.  The enthusiasm for this move was tempered somewhat though by the top heavy nature of the QQQQ rally, which seemed to primarily driven by Google (GOOG) and Apple (AAPL).However, we are now seeing other technology indices and stocks that look to be outperforming the broad market and perhaps poised to break out to the upside.  The CBOE Internet Index ($INX), Philadelphia Semiconductor Index ($SOX), and AMEX Disk Drive Index ($DDX) are just a few that have had strong price performance lately on their charts.
(Continued Below)

Here are the weighted holdings of the SOX:

Altera Corp.                              ALTR   5.97%
Applied Materials, Inc.              AMAT   4.94%
Advanced Micro Devices            AMD  1.78%
Broadcom Corporation            BRCM   7.18%
Infineon Technologies AG            IFX   2.44%
Intel Corp.                                  INTC   5.99%
KLA-Tencor Corp.                    KLAC   11.63%
Linear Technology Corp.          LLTC   9.39%
Marvell Technology Group       MRVL   4.51%
Micron Technology, Inc.               MU    2.13%
National Semiconductor             NSM    5.62%
Novellus Systems, Inc.              NVLS    5.98%
SanDisk Corporation                SNDK    7.53%
STMicroelectronics NV               STM    3.30%
Teradyne, Inc.                            TER    3.40%
Taiwan Semiconductor               TSM    2.96%
Texas Instruments, Inc.                TXN   8.24%
Xilinx, Inc.                                    XLNX  7.02%