It has been very important the past few years to get sector selection right, as it could be the difference between feast and famine. Investors in miners have gotten smoked this year while technology investors are having a spectacular year. I believe that the outperformance of technology will take a break at minimum. I expect to see a sharp correction in technology some time in the next few months and am looking to move some hedges to the Nasdaq 100 within the next few weeks.
A lot of the IRA and tax refund money will likely find its way into technology because it is the hottest sector. The same investors that likely would have put GLD in their IRA a year ago will now put Apple in. That might help technology extend its performance for a few more weeks, but I believe that the sector's days of outperformance are numbered.