Just wanted to send a quick note to those of you still watching tech stocks about the amazing resurgence of Internet stocks. The following companies have actually had GOOD earnings reports and noticeable and significant earnings improvement. While I remain an overall tech bear, I have to be impressed with the news coming out recently from these former high-flyers:

• ASKJ
• MACR
• DCLK
• BVSN
• VIGN (actually, lukewarm)
• YHOO (old story)
• EBAY (very old story)
• AMZN (can this be real!??! can it be sustained?!?)

I am of course not recommending any of these, and this list is NOT complete, but for anyone looking for some bright spots in the overall tech story, here are places to begin looking. I will repeat my mention earlier of the storage industry. It makes sense that if the Internet companies are making real improvements that storage can walk along with them. The storage companies that seem to have good stories these days are (again, this is probably not complete):

• EMC
• MCDT
• WDC (This is the company I highlighted some time ago)
• ELX

Finally, some enterprise software companies are actually surprising me with some decent news. Companies like SEBL and PLUM. I am not quite sure what to make of this just yet and I remain quite wary.

Consider this my attempt to be a bit more even-handed with tech! :) But it is a faaaar cry from getting bullish on this sector overall....

...on the flip side, telco companies seem to be headed for a new phase of hurt with the awful news coming out of AT&T, Bell South, and Nokia. This is one to keep watching out for since the telco gravy train extends far wider than Internet service and storage.

I hope to incorporate quick notes like this when I do my month-end round-up and '03 perspectives sometime early Feb. Be careful out there!