![]() ![]() The question still is how long can enterprises hold off from spending what they need to keep up the firehose of data coming from their systems in the cloud. Yes, I am not backing away from that notion either. I am not retreating from that logic, my conclusion if you recall is that the demand for the cloud cannot be held up for very long, let alone for a year. I covered this last week, I said it is extremely easy to slow expenditures and that's why these services were hit so quickly and dropped so precipitously. ![]() Then last week GOOGL, and AMZN reported, and it was clear that the cloud was slowing down. The energy sector was also clearly outperforming the overall markets. Then it became clear that oil names traded separately from tech according to a different set of economic data. Most of my portfolio for long-term trading consisted of technology at that point. I started accumulating Alphabet ( GOOGL) and Amazon ( AMZN) as they prepared to split, I added Microsoft ( MSFT ), then it was only natural to start building up Adobe ( ADBE ), Intuit ( INTU ), and ServiceNow ( NOW ). I recognize that I have been calling for strength to return to my "Tech Titans" list for months. ![]()
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