lt cap,

Thanks for sniffing out the reason for today's debacle with NOK. Unless my math is off, NOK is down 5%, which is not bad considering ERIC is down 17%. But I'd expect another hit when (probably, I'd guess) NOK's CC isn't going to be a joyful event.

I hate to air my ignorance publicly, but I'm not sure how all the moving parts fit together: NOK is an optical equipment maker. It also has a good slew of patents that it licenses out for other companies (such as Samsung), and there is going ot be a resurfacing of phones with NOK's brand name on them, altho they will not be manufactured by NOK. If I'm missing something, please correct me.

The last 2 days have really been brutal. I understand that NOK can't be a totally different story of ERIC and why - ERIC is basically saying their business is taking a horrific hit. Why (revs, is it) will drop 93%, I don't know what is driving that slump. But just as ERIC has missed 4X in a row, my memory says that NOK hasn't made their numbers in at least the past several quarters. Also, Samsung predicted a 33% drop because of the Note 7 fiasco. I can certainly understand that I think - I don't think their brand name will suffer much. But what's catching fire is not the original phone they put out - it's the replacement for the original phone catching fire. (I wish they had spun it differently as in "No, no - it's not a defect - it's another unique innovation in our products - you can use your phone as a cigarette lighter.) I imagine the blow to NOK thru Samsung is the licensing revenues they lose, compounded by the time it will take Samsung to design and put out a replacement for the 3rd iteration of it's phone, bundled with a fire extinguisher, just in case. I think that's what you referred to yesterday as it being an immediate hit to ERIC, but not significant in the long run. (I think I heard that the also license to Apple, so perhaps some of the revenue gets shifted to them, although I'd think it'd be hard to change one's phone and everything associated with it to a 'Mac' system.)

I will likely stand pat and suffer the pain, if I've got all that right, as the long run is what counts.  I wonder whether selling some shares ahead of the CC, betting it won't be very good is  an idea to consider, although timing the market and timing companies are just not really solid footings. At the opposite end, buying more here, if one can stand it, is probably not a grand idea, as we've no idea of what is cheap, given all the problems. INFN is the poster boy for that.

If you've got the time and inclination, let me know if I'm understanding this correctly, as far as your viewpoint and the real facts go.

I'm beginning to either hate Jon or envy him, not sure which. He options out CIEN, and I wait, as the uptrend may well have continued I thought. With pretty exact timing, CIEN has plunged from well above 22 to slightly above 21. Apparently, your record of call options trading is the kiss of death for the given company. I don't understand how that works, but next time, I'm just going to follow your lead :-)