Tech Data (TECD) is an excellent barometer for tech spending, and boy is it ever sinking.

Hewlett-Packard (HPQ) had already strutted its stuff, so a second go-round doesn't mean much

Handsets are weak, so nothing doing there for Motorola (MOT) or Qualcomm (QCOM). Apple's (AAPL) already ramped.

Handsets are weak, so nothing doing there for Motorola (MOT) or Qualcomm (QCOM). Apple's (AAPL) already ramped.

Handsets are weak, so nothing doing there for Motorola (MOT) or Qualcomm (QCOM). Apple's (AAPL) already ramped.

That said, we know this group has about a hundred lives. I think Cisco's (CSCO) gotten back to being "cheap" although it's lacking in catalysts.

The semiconductors don't have much going for them, but I like the split up of AMD (AMD) to produce a profit for next year.

I don't like buying Google (GOOG) up this high, and I don't trust the numbers. But on weakness, there's value there if you see a turn in 2009 in advertising.