Move Over Wall Street, the Technology Sector is Back

Amidst the crunch crunch due to subprime mortgage woes for investment banks, technology companies seem to be increasing sales by leaps and bounds. In the 10 days alone, we've seen Google and Microsoft beat market expectations on their quarterly results, which has translated into sizeable stock increases of 7.96% and 17.7%, respectively.

Increased on-line advertising, PC sales, video game sales, and general faith in these two large companies have increased investor confidence in the technology industry. All this amidst subprime mortgage woes, which have caused most of the major banks to report tremendous losses (see Merrill Lynch's $8 billion loss a few days ago). Stock Prices of Merrill Lynch, Morgan Stanley, and the Lehman Brothers have all fallen drastically in the last 10 days.As you can, these falls range from -6% to -16%, with Goldman Sachs being slightly above the rest with a -1.21% stock dip (believe it or not, Goldman Sachs actually beat analyst estimates and recorded a great quarter in lieu of the market downfall).

These trends lead me to pose the simple question: Should we, as short-middle range investors, be moving our money into the technology industry and away from the financial industry. I say yes, but that could be because I'm a tech geek.