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January 22, 2014  Wed 8:10 AM CT

VZ: SEE CHART GET CHAIN FIND STRATEGIES
Tech is working because people are recognizing that the PC isn't dead and that you aren't as leveraged to the consumer with tech as you would be with so many of the housing-related plays or with retail in general.

People are also recognizing that Europe is a big buyer of tech, and that hasn't slowed. Most importantly, the Verizon news of increased capital spending fits entirely with the rebirth of telco equipment spending.

TheStreet.com logoPlease do not forget how far behind tech is from the market itself, even after this very big move. The Nasdaq's outperformance isn't just biotech this year, though two of my four horsemen of the Big Pharma Apocalypse that I write about in "Get Rich Carefully"--Gilead and Biogen Idec--remain huge outperformers.

The only fly in the ointment is Intel, and I remain a believer that this year, with its now-very-lowered expectations, is going to prove rewarding for the long-suffering shareholders.

Disclosure: Cramer's charitable trust is long INTC.
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