IMO, the big drop on CIEN shares exemplifies how nervous this market is.  Investors are licking their wounds, the typical stock has dropped more than 15%.  This has investors on edge, this is why I still believe a drop of 20% to 25% from the S&P highs is still in the cards.

That said, I still believe that until next earnings this market is tradable, but seeing the drop on CIEN reminds me how screwed up the market psychology is