Keep an eye on the networking stocks today after Finisar (FNSR) reported terrible news in regards to orders out of China. The stock is down over 35% pre-market and its peers are following the trend.
Ciena (CIEN) and JDS Uniphase are both losing over 10% in pre-market trading and this should weigh heavily on the iShares S&P Networking Index ETF (IGN) that counts JSDU as one of its top holdings. A pullback to $36 for the ETF could turn into a buying opportunity. Yesterday it closed at $37.43.
Market expert and TV personality Matt McCall blogs about what is really moving the markets. He will emphasize Exchange-Traded Funds (ETFs) and individual stocks throughout the trading day.
No comments:
Post a Comment