Has It Stopped Raining On The Cloud Computing Stocks?
Many of the leading cloud computing stocks have come under some sharp selling pressure throughout the month of December. Cloud computing leaders such as Salesforce.com inc (NYSE:CRM) and VMWare Inc (NYSE:VMW) have been extremely weak. These stocks are holding up well today considering the major stock indexes are coming under some selling pressure this morning.
Cloud Stocks Fly Despite Market's Downward Pressure
Since October 4, 2011 the major stock market indexes have soared sharply higher. This October rally has been one for the record books. Obviously, short covering from the European bailout news has helped this stock market trade higher over the past four weeks. The leading technology stocks have benefited greatly from this stock market surge.
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Many of the cloud computing stocks are trading higher this morning. Yesterday's market rally really helped to lift these popular technology stocks off of their recent lows. Prior to the May 2011 top in the stock market if was the cloud computing stocks that were leading the stocks markets higher.