David J. Eiswert

Tech manager explains why current rally is different from last one.

Michael Ryval 5 March, 2010 | 7:00PM

Science and technology stocks staged a dramatic rally last year, putting an end to a decade when the sector languished in the doldrums. This year, the sector is caught in a downdraft of concerns about Greece's debt crisis spilling beyond Europe, and investors who think that technology stocks may revert to their bad old ways.

All of which fires up David J. Eiswert, 37, manager of the $93.1-millionTD Science & Technology - I and vice-president at Baltimore-based T. Rowe Price & Associates Inc. "Tech investors are 'dedicated pattern' investors," he says. "They look for certain keys to buy or sell, buying stocks when profits accelerate, or they think there are positive earnings revisions."

This pattern was evident last year, when tech stocks rallied because investors decided "things had stopped getting worse," says Eiswert, whose fund returned 51.4%, compared to 33.1% for the median fund in the Science & Technology Equity category.

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Michael Ryval

Michael Ryval