Old Tech

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Some of the more enticingly weak charts I've been finding lately have been of old-school companies with decades of history that are, to be blunt, past their prime. In each of the examples below – Eastman Kodak (the former film giant) and Xerox (the former copier giant), they had a go at some kind of breakout (tinted in magenta) but, once it dawned on the investing world that these firms were not about to undergo some kind of corporate renaissance, they sold off again hard. I came into the day short XRX but covered as it got close to its supporting trendline (it could fall much further, but I am being terribly cautious today).