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As of 1 30PM EST, most of the technology indexes are down.
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Manager Blatch points out that running a technology index fund has certain pitfalls that other indexers don't face.
The Russell's technology index has jumped 39percentthis yearar.
The Pacific Stock Exchange technology index dates from September 1982, at a time of rising enthusiasm for technology stocks.
The Pacific Stock Exchange technology index was down for the fourth consecutive week, falling 5.5percentt.
Yesterday the technology index jumped 1.4percentt and accounted for almost two-thirds of the S.&P.
Since Oct. 9, the information technology index is up 45.9percentt while the telecommunications services index is up 38.4percentt.
The S.& P. technology index, meanwhile, fell 53.78 points, to 1,813.95, a new low for the year.
The S.& P. 500's information technology index touched a 15-month high and has climbed 9 of the last 10 days.
Fund managers have been building cash levels as the Standard & Poor's technology index has fallen 34percentt since the end of August.
The technology index rose almost 1,500 percent in that decade, nearly five times the gain in the S.& P. 500.
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