Tech rally leads the way

Another steep decline in oil prices helped most of the market but sent oil stocks tumbling.

A variety of technology sectors gained, with computer hardware and software and networking all participating. The influential semiconductor sector bounced, too, thanks to a rally in Intel shares.

After the big run in the second half of 2006, investors are looking for relative bargains in early 2007, and, to some people, the tech sector seems to represent that, said Ron Kiddoo, chief investment officer at Cozad Asset Management.

Last year, the NYSE tech stocks gained just 9.8% compared to 16% at Dow. Thus I think this year with Vista releasing and Apple releasing Leopard, tech stocks will be where it is at.

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