Thursday, October 16, 2008

Newspapers stocks still weak

As seen in the attached charts of Gannett (GCI), publisher of the USA Today and the New York Times (NYT) publishing stocks have been under pressure for some time.  Note that FusionIQ flashed very, very timely SELL SHORT signals in both names in MAY/JUNE before both fell very sharply.

GCI made new lows yesterday and never bounced in the markets recent two day run up, so although these stocks appear to be beaten down they may keep going lower so avoid the temptation to bottom fish.

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