Growth Stocks for Late 2009 - Look to Technology (VGT, QQQQ)

The growing consensus on the Street is that large cap and solid technology companies are going to benefit from business and consumer spending, if that's the case, its time to review the ETFs that can help you benefit from the tech stocks making a comeback in 2009 including Vanguard Information Technology (ETF) (NYSE:VGT) and the widely held PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQQ).

The technology sector is the one area that via new and existing applications can help companies of all sizes increase productivity, improve their profitability and help to ease day to day activies during this difficult Recession.  The big tech companies such as Oracle (ORCL), Microsoft (MSFT), and IBM have the advantage of strong balance sheets with tons of cash to spend on make acquisitions or share buybacks, something that many sectors are missing right now.

Forget picking stocks for once, your weapons of choice for betting on a tech sector comeback are the following ETFs, thus going long on each of the following securities:

Tickers Alone: QQQQ  XLK  IYW  VGT

Robert Hagstrom of the Legg Mason Funds Mgt. sees businesses investing more in technology going forward, here's an interview he did today with Bloomberg:

If guys like Hagstrom are right then the entire tech sector is due for a 5 to 10% rally at the least closing out 2009.  If that's the case, solid tech ETFs are a way to place the bet that won't kill you if the one tech company you picked misses the boat while some of the others actually prove tech is sexy in 09'.