Money rotating out of hot sectors is generally put to work elsewhere quickly. Looking at the Trading Ideas for Tuesday, we can see the stampede out of basic materials (gold & silver, metal mining, steel, chemicals) and energy (oil, coal).

Where it the money going? It seems like some of this money went into tech stocks. We can see this from the recent price action from the PHLX TheStreet.com Internet Index ($DOT). Momentum players love watching where the action is and it seems like technology will always be one of their favorite areas to trade.

The PHLX TheStreet.com Internet Index has 21 constituent stocks. The key is the recent outperformance of the software & programming industry: eight stocks in $DOT belong in this sector.

TheStreet.com Internet Index ($DOT)

Daily bar chart with InVivo.RMI.Stops and InVivo.RMI.Histogram applied

I have marked off on the $DOT chart the first resistance level (graylLine) that the bulls will be watching very closely.

Symantec Corporation (SYMC)

• Symantec profit rises as it signs more big deals
  Symantec Corp (SYMC), the world’s largest security software maker, reported higher quarterly profit on Wednesday, beating Wall Street expectations, as it signed more large contracts.
• Symantec Moves Into Endpoint Virtualization
  Symantec today announced that it is buying nSuite, a privately-held virtual workspace management company, in a move some analysts see as a bid to ensure its future.