Yes... the selling incinerates stocks like BRCD, RBAK, CIEN, BRCM, JNPR, NTAP etc...burning like straw huts...who put out the napalm?
BRCDs action was even more ridiculous.
my beloved SUN burning down, 95, bejesus.
Thursday October 26, 2:21 pm Eastern Time
Profit Jitters Rattle Technology Stocks
NEW YORK (Reuters) - Technology stocks fell sharply for the second day in a row on Thursday as growing expectations for less rosy earnings battered the once high-flying fiber-optics sector.
The technology-stacked Nasdaq Composite Index (.IXIC) was down 131.82 points, or 4.08 percent, at 3,097.75.
The Dow Jones industrial average (.DJI) was down 32.93 points, or 0.32 percent, at 10,293.55. The broader Standard & Poor's 500 Index (.SPX) was down 23.27 points, or 1.7 percent, at 1,341.63.
``It started with people getting worried about Nortel's revenues a couple of days ago,'' said John Forelli, a portfolio manager at Independence Investment Associates. ``These are very, very expensive stocks. You're not going to get a one-day correction, you're going to get a multi-week correction.''
Wall Street was shaken this week by news that optical equipment sales of Nortel Networks Corp. (NYSE:NT - news; Toronto:NT.TO - news), the world's No. 2 telecommunications equipment maker, were weaker than expected.
As a result, investors were walking on eggshells ahead of a more quarterly earnings results from the sector, namely fiber-optics maker JDS Uniphase Corp. (NasdaqNM:JDSU - news; Toronto:JDU.TO - news). |
