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Canon Continues to Lose Focus

A broken camera brought the company to my attention, but Canon's broken chart and earnings trend places the stock in a shadow. Revenue fell into a hot tub time machine, only instead of the 1980s, Canon stepped back into 2009, into the depths of the financial crises. If Canon is near 52-week lows during QE3 and record S&P 500 highs, what's the scene when the era of cheap easy money is over? I don't think it's favorable.

Don't short Canon because technical analysis suggests a dead cat bounce at this level; however, use share price increases as an opportunity to take money off the table. Use the capital to buy a company that is executing for shareholders like Toyota or Google. Your portfolio will be glad you did.

At the time of publication the author held no positions in any of the stocks mentioned.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

Robert Weinstein currently blogs, mentors traders, and writes several weekly columns in Rocco Pendola's Option Investing newsletter from his home in northern Wisconsin. Robert tends to focus on the psychological importance of goals, risk mitigation, emotion, and relatively short term market exposure. With nearly 30 years of studying and investing experience, Robert has experienced the many ups and downs in the financial markets and uses the knowledge gained to maintain balance. Robert believes the best way to make money investing is to avoid losing it. The best way to avoid losing is to know what emotional traps lay in the path of investors and learning how to avoid them. Robert is a voracious reader of financial related books often completing more than one book a week while not trading or writing. Robert contributes to his blog at paid2trade.com on a regular basis with an emphasis on studying behavior finance.


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