A lot of investors don't have a much exposure to pure play technology companies. Ever since the bubble and correction in technology stocks, individual investors are still wary of the entire industry.

I'm really warming up to technology investments right now. Many companies from small telecommunication suppliers to those offering innovative software applications are running lean business operations and look like solid investment opportunities.

If you're an active trader that likes momentum investing, Stamps.com Inc. (NASDAQ/STMP) is a really hot number right now. If you have some spare time, take a look at this company. It really is an innovator. This company has permission from the U.S. Postal Service to let its customers print their own stamps and packaging information from their own personal computers. If you run a small business from home, this company's service is really worth considering. What a time saver--print off your own stamps and packing slips, and add a real professional look to your correspondence. What a great service for a home business.

Not surprisingly, the stock is very expensive, but it is going up. I don't think I'd have to guts to speculate on it, but the stock is in a solid uptrend.

Another neat technology company is Phase Forward Inc. (NASDAQ/PFWD). This small-cap company sells sophisticated software that helps customers manage all the information generated by doing pharmaceutical clinical trials. You know how much money pharmaceutical companies spend on developing drugs. How about a technology company that helps them do their job better? Phase Forward sells its software to pharmaceutical, biotechnology, and medical device companies, even academic institutions and governmental regulatory agencies.

I'd have some pure play technology investments in a model portfolio right now. Institutional investors are once again interested in these kinds of opportunities and there's no doubt that there are many small technology companies out there doing very well financially.