Chip Stocks Race Higher… CNBC Presenter Gets Slapped
by Steve McDonald, Investment U Analyst
Friday, February 18, 2011
Have you seen the movement of chip stocks recently?
The sector is on the march, with stocks like Micron Technology (NYSE: MU) blasting 60% higher over the past three months.
The uptrend for chips - the building blocks of the tech sector - comes at a time when most indexes are lagging.
This is no surprise to us. My fellow Investment U analysts have been talking about the big potential for the tech sector for a while now. Driven by enterprise and business spending, the move is not only happening, it also has a way to go yet.
Take a look at Alex Green's comments about digital security in the tech sector. He's one of the best in the business at picking trends and he's right on the money and ahead of the curve on this one.
The "Slap in the Face" Award
This week it goes to CNBC - specifically, Becky Quick, one of the hosts of "Squawk Box."
In a panel discussion earlier this week about President Obama's new budget and why the issue of Medicare costs wasn't included in the cost-cutting efforts, Quick asked the panel: "Are the American people are so stupid that they can't see this?"
Step up for a slap in the face, Becky.
Talk about arrogance. The answer is no. The American people aren't stupid; they've been lied to and mislead by their leaders for so long that they don't know what to believe.
The complete lack of leadership and political will in Washington is the issue, not the intelligence level of the American people.
Maybe we should e-mail her and ask if she's so stupid because she can't see that.
Editor's Note: In addition to this one, you may have read Steve's posts from earlier in the week. But he also takes the time to head to our recording studio and tape Investment U's Weekend Update. You can find this week's video right here.