lt cap,

Sure *feels* like it's overdone - but as you've pointed out JNPR reports today - and weakness there might convince a fair number of people that the sector itself is completely stalled - Read a pretty good (but nasty!) preview of JNPR earnings - story on Yahoo dated April 22 - full of many unpleasant things  - e.g., JNPR cut guidance on April 11th - Last time they reported, the stock dropped 15% - does that mean they can beat? Well, maybe - but there is a big order that has no visiblity - not clear if delayed or cancelled.  

With CIEN at $16.60 now, I'd probably start considering adding to the madness of my position. But I think a bad JNPR CC could just about sink the whole sector. CIEN doesn't report until early July (I think - or perhaps June) - but there's no reason for me to believe that will help, rather than hinder, the sector.

All this has me thinking pretty gloomy, it seems. I'll buy some generic Prozac and then buy some TEVA stock. (Actually, I do own a little bit of TEVA.)

If all this drags CISCO down eventually to low 20's, I'd consider buying it for the dividend.