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Tech's Slaughter Leads Us Lower

By Jim Cramer

 About this article:
 Blame tech today for the most recent decline. IBM , Apple, Cisco and Hewlett-Packard are being smashed, just crushed, in what would seem like some sort of growth tech stock liquidation by a big mutual fund. Last year was hedge fund redemption time; this year it seems like the runs are in mutual funds. I have been buying HPQ because I think the worst has been priced in, but that's been wrong. The selling is endless, and it feels like a liquidation because the sellers never even let the bids build -- they whack and whack and whack. I know there was a number cut last week off some proprietary research that showed Apple to be faltering, but H-P just said that its most recent projections from the quarter are still good. Cisco and IBM have said nothing; the latter's using a lowball estimate and IBM...

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