Baz: No, I'm not short CPQ - I don't short stocks.
CPQ may be down a full point, but that only brings it to the bottom of the 23-25 base. IMO it will ping pong back and forth within the base until some catalyst propels it out of this base. What's the catalyst?
Breakout to the upside - New CEO who is perceived to be the CPQ messiah, somebody buys CPQ at a big premium <ggg>, AV spin-off (but not that likely IMO), and/or execution, execution, and more execution.
Breakout to the downside - New idiot CEO and/or no execution.
You're right, perception has not changed. It is still under heavy distribution - IBD rating is E (lowest you can go) and the RS is 16 (used to be 13, though). The stock won't go anywhere until perception does change - one way or the other.
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