A technical green light suggests Big Tech could retake market leadership, trader says

, president of Strategic Wealth Partners, is still bullish on tech, though says a pullback does make sense.

"We've been overweight tech for a while [but] a lot of these high-flying tech stocks have needed a breather. I mean, the thing is up 8% year to date, up over 30% off its low," Tepper said during the same segment. "You've got China tensions which are flaring up, so mean reversion is normal and healthy. But I think people need to keep this breather in perspective.

Tepper said he is using pullbacks to add to positions. In particular, he likes stocks in cloud computing, virtual desktop software and work-from-home technology.

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TradingNation The same green light came on in 1999 just before the Y2K tech wreck.

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Bill Ackman: Coronavirus 'hugely beneficial' for Amazon, big tech - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Uhhhh, not if ppl remain unemployed. BA laying off & saying more to come, retail biz shuttering or significant downsizing, airlines just waiting for September to start layoffs. I think he may be a few years too early on this call.
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