What 2007 Holds for Big Tech

This column was originally published on RealMoney on Dec. 19 at 11:02 a.m. EST. It's being republished as a bonus for TheStreet.com readers. For more information about subscribing to RealMoney, please click here.

Let's take a step back and look at the Nasdaq's most popular stocks through a longer-term lens. This positioning analysis might help investors decide what to do with these widely held issues as 2006 draws to a close. It could also uncover the most promising new plays when we come out of the starting gate in January.

Keep in mind that market leadership often shifts gears when the calendar turns, so this year's leaders could easily become next year's laggards.

Many folks hold top-performing positions into January, then unload them to take advantage of the new tax year. This generates downward pressure on strong stocks that often yields significant reversals. ...