Now is not the time to abandon tech, Oppenheimer says: At the Open

Twelve years ago today the S&P 500 (SP500) (SPY) hit the bottom of the Financial Crisis selloff, closing at 676.53."We remember the day all too well: the preponderance of doomsayers who stepped to the front of the screen predicting that things could only get worse. The very next day the equity market began to rally carried on the wings of stimulus provided by the Federal Reserve," John Stolzfus, chief investment strategist at Oppenheimer Asset Management, writes in a note."That 'next day rally' moved ahead over the next 11 years not withstanding a number of pullbacks of as much as nearly 20% - until Covid19 overwhelmed the landscape and disrupted a multiplicity of economies, societal entities and markets around the world."It took the S&P more than six years to get back to its pre-Financial Crisis high of 1,565, but six months to get back to the pre-pandemic high of 3,386.Now the