Trader/investors have been expecting more solid earnings predictions from the telecom equipment suppliers. LU didn't provide it. They're still waffling on future earnings this year. LU, NT, etc. are long term bets.
How is it they didn't provide it. They raised guidance, and beat expectations? At first the stock was up by 1%. I'm thinking this sell off is irrational exuberance.
"Swedish telecoms equipment maker Ericsson ((ERICb.ST)) gained 3.4 percent to 24.1 Swedish crowns after a bullish note from Goldman Sachs investment bank ahead of Ericsson's results on Friday. U.S. peer Lucent (LU,Trade) also helped the sector with some strong earnings."
==================================== Rowenwood; Can't speak on mr. Lindq last paragraph , because did not research the earnings lately; however my NT position was smaller than usual simply because a smaller price like NT means a smaller position in my plan. DIA, SPY & QQQ are nicely uptrending area 50 day moving average; however NT & LU both are more risky in my read because they have closed below 50DMA. Its a wonder i replied so fast to your post; may take me 20 days or more. Also glad I s-l-o-w-l-y cut my loss on DYN last year because it keeps my business expenses DOWN; also DYN is still below 50 dma . ============ Saw on History channel, General Custer, 7th cav; [a]Should have Listened to Indian scouts; I used to bow hunt with 1 Indian -HE WAS SKILLED. [z]Even if the media didnt like it; military should have used gattlin/gun.
Dear Murray, I'll hopefully never play derivatives again. I had a very bad day. I'm in cash now. I'm waiting for Alan's remarks due tomorrow monring. Looks like we're technically damaged: we're headed south. Indices falling below their 50 supports. I'm glad I learned my lesson with options at this early stage of my game. You shoudl read my poem called A Pony Poem under the chit-chat thread called Poem. I especially enjoy the latter part of the above post, the part about the Indians, and hunting, and the Gattlin gun.