Stocks quoted in this article:
The bears are out in force today, attacking the market-leading
names that had been holding up on a relative basis. The weapons of choice are rumors and downgrades. Here are some examples:
Sun Microsystems (SUNW – 28-1/2) made a new 52-week low today at 27-1/2 on persistent rumors of accounting problems. The
stock is trading down 9.86 percent today.
International Business Machines (IBM – 88) was the lone box maker left standing until it got downgraded today. IBM is now testing the lows made October 25th, currently trading at 88, down 4.73 percent.
EMC Corp. (EMC – 66-3/8) also fell victim to an analyst downgrade today. The stock is getting beaten up on the news. EMC is now down 10.89 percent, a chip shot from making a new 52-week low.