Investors more cautious as they re-enter stock market.

By Tom Ramstack, The Washington Times Knight Ridder/Tribune Business News

Feb. 1--Josephine Murphy says she learned to be more careful about her stock market investments after the technology bust of five years ago.

Her stocks in America Online, Cisco Systems and other companies tumbled.

"What I mostly lost money on was the things my stockbroker suggested I buy when tech items were hot," said the Falls Church librarian. "Now I'm more suspicious. I make my own decisions."

Like many investors, Mrs. Murphy again is venturing into stock investments as the market improves.

Despite a moderate decline in January from oil prices and Iraqi war concerns, analysts predict steady gains for the stock market this year.

Mrs. Murphy expects to set aside about 8 percent of her annual income for investment, which she puts …