Techs have been outperforming from the shallow belief they will not be effected if either Bush or Kerry is elected where as Pharms, banks and such will be effected if Kerry is elected. I still don't see this a cause to think Techs roar post-election, it could be cause for them to sell off however and start underperforming DOW. And add to that in the mean time buyers have ignoring the bad news as insiders in techs are selling hard.
Every single talking head on CNBC is waiting for a rally and are extremely positive. No one except for Cashin even mentioned the new 52 week low on the DOW. I think there is complacency.
the only fear yesterday was in missing the runup in semis and inet stocks. this market is making me dizzy. got to love the volatilitly, but it does not help with my visiblility which has been cloudy for a week and a half now