This notion that the Techs can withstand the looming BOND CRASH is just nuts!
The only reason people are speculating in tech is because of the low rates!
THE LOW RATES ARE GONE!
Muni Funds are paying 8% Granny! TAX FREE! You don't have to plunge in techland anymore!
If anything the techs will be MORE damaged by high rates than the blue chips! Since when are high rates good for small companies?
It is true that under a BUBBLE MENTALITY the techs didn't have to worry about profits and margins or even income; simply a "story" would do. But, in the new INFLATIONARY environment, with A CRASHING BOND MARKET!
THE TECHS WILL NOT SURVIVE!
A TECH CRASH LOOMS!
POSTSCRIPT:
Alas, Google's IPO could be the shortest "liquidity event" in financial history. Perhaps, measured in techy nanoseconds!
