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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: chowder who wrote (76548)10/17/2000 5:09:25 PM
From: ItsAllCyclical  Read Replies (2) of 95453
 
>> Oh My!!! Slider, CMTN is down almost 50% in after hours <<

Reduced CLEC spending. I forget what that acronym stands for. I think Competitve Local Exchange Carrier.

This obviously impacts the entire sector. CMTN was the leader in DSL chips. EFNT, NTPA etc have already taken a hit, but they'll take an even bigger one tomorrow. I think DSL will rebound, but it's dead money for now. CMTN revised it's estimates for 2001 from 1.37 to .16 to .25ish. Pretty amazing.

PC sector slowing. SOX going down the tubes.

Right now the only three sectors holding up the Naz and preventing a fall to sub 2000 are the BIO-Nuts, B2B and Optics plays. Two of the three are VERY vulnerable and the last one isn't exactly cheap.

Go read the CMTN board. This was considered a blue-chip stock within the sector. People have been wiped out - completely.
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