From Investor's Business Daily, December 22 issue, page A3:
"It [Compaq] tried to form a bottom in the 60s, but undercut support on Dec. 11, falling to 56. The stock has since turned lower again in what Weinstein [Stan Weinstein, editor of The Professional Tape Reader] calls "a textbook bearish pattern."
The main thrust of the article goes on to say that the bellwethers of the tech sector are looking weak (MSFT, CPQ, and INTC are featured). Those quoted remain bullish for the long term, but they express some concern over the short-term picture.
From the article:
"In 37 years of following the market, this has been one of the worst Decembers for stocks, Weinstein said. Other lousy Decembers include those of '68, '69, '72, '73, and '83. All of those periods were followed by big trouble in the market the following year."
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