Tech stocks: Don’t run with the crowd

Dramatic swings in the tech sector in recent months have fostered a herd mentality that investors would do well to avoid.

Earlier this month we noted the NASDAQ index, which is dominated by high flying growth stocks across the technology and biotech sectors, had succumbed to heavy profit taking, fuelled by stretched valuations and fund positioning.

The volatility even spread to our shores, with a number of online and technology stocks falling victim to profit taking. Some of the larger names included REA Group (REA), Seek (SEK) and CarSales.com (CRZ).

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