Look Who's Back -- What Are They Smoking?

BusinessWeek Online reports that technology and telecom stocks are "back in the black." They've got to be kidding.

Everyone knows that the telecom market is still being pounded by overcapacity, tremendous debt loads and demand that has fallen well short of projections. As for technology, other than a few mega-brands -- eBay, Amazon.com and Yahoo! -- there is no indication that software, Internet or IT stocks are ready for a long-term rebound. Sure, a few issues posted large percentage gains in Q1, but that's because they were climbing out of the toilet. So for BW to opine that the market meltdown has reversed itself is pure hogwash.

 Posted by glenn