BMFM, many, many, many (probably more than ever) long term investors have probably sold sizable pieces of profitable investments recently to protect those profits from eroding. Think of all the profits in the banks and the big techs for people who have held these securities for 2-5 years (yes, many people did buy DELL and CSCO and MER and TRV two years ago). Panicked brokers I'm sure have been urging these people to "take money off the table" and to "lock in profits".
Well, those same brokers may have gotten people into CIEN at 90, 80, 70, 60, 50 ,40, 30, 20, and even 10. Get the picture.
Gary |
