Here's the transcript from last night's Nightly Business Report:
PAUL KANGAS: We have seen a massive tech wreck over the last couple of weeks. Tonight's "Street Critique" guest says the selling has been particularly brutal for technology firms, with the NASDAQ down 12.7 percent since the start of the year. She's Hilary Kramer, market strategist and author of "Ahead of the Curve" and Hilary, welcome to NBR.
HILARY KRAMER, AUTHOR, "AHEAD OF THE CURVE": Thank you, Paul.
KANGAS: The late afternoon turn around today the $64 million question is have we seen a bottom?
KRAMER: Yes, Paul. I believe we have seen the bottom and we are going to now see a bull come back into Wall Street. We have formed a bottom and the reason we know that is that we finally had real buyers come in today. But we know it even more so because of what I saw this morning and yesterday, which is real fear. Fear took over and it over powered greed. Greed for so long was fueling the market, including as it was going down people buying into it.
KANGAS: Huh-uh....
...KANGAS: Where do you see value among the tech group?KRAMER: That's a great question, Paul. What I have been looking at are the solar technology companies. In particular there's a company called Sunpower. The ticker symbol is SPWR and it is off 50 percent from its high which was only a few weeks ago. Now Sunpower is reporting before the bell tomorrow and we could see Sunpower have some great guidance. If they say that there's a lot of demand out there for their solar modules and if that's the case, the whole solar sector may rise.
KANGAS: What else shines in your mind?
KRAMER: OK another solar stock, a different one called First Solar (FSLR) and it's a different technology, thin film technology, very efficient form of solar. And First Solar is also off 45 percent since December. It's unbelievable what has happened to these stocks because of momentum buyers became momentum sellers and shorters. So if Sunpower goes up, we will see First Solar go up.
KANGAS: Very briefly one more. We have less than a minute.
KRAMER: I would like to talk about Apple (AAPL). This is very important, because as we know, Apple was $202 just recently and it closed today at $139 and it tested $126. I may go back into Apple. But what happened there is Steve Jobs is very conservative in giving guidance. But the key is, they are going to make inroads into the PCs because they can convert iPod users into desk top users and lap top users.
At the close Hilary was 1 for 3 but hey, in the majors they're paying $45,000 per at-bat for that kind of performance.
