Ciena (CIEN) is rising on short covering. CIena is now trading up to $14.60 Ciena beat earnings by $0.17, but guided Q4 revs below consensus . Ciena explained, “Our third quarter results, which included a favorable product mix and reduced operating expense to achieve an as-adjusted operating profit,
 Adding a 5% tranche to Pan American Silver Company (PAAS) at $32.60.
Added to silver futures short at $41.70. Equalent on silver ETF SLV is $40.60.
Taking profits on a 15% tranche on PowerShares QQQ (QQQ) at $55.55.
We have taken partial profits on a 10% tranche of PowerShares QQQ (QQQ) at $55.59.
ISM index will be released at 10:00 am EST. Some market participants seem to know it at 9:55. If the index is less than 49.5, we will exit our entire PowerShares QQQ (QQQ) position. If the index is over 55 we will add a 20% tranche.
A large number of institutional investors have been holding AT&T (T) in anticipation of share gain after the merger. We expect several of these investors to start selling AT&T stock. This will put additional downside pressure on the shares of AT&T. When the time is right we
Acquisition of T-Mobil has been blocked by the Department of Justice. AT&T (T) has said that it will contest in a court. This development is negative for AT&T and Verizon (VZ). The development is neutral for Sprint (S). T-Mobile has been an aggressive competitor. T-Mobile staying
Taking profits on Marathon Petroleum Corporation (MPC) right here at $37.40. Now we are exiting this position and will no longer be following it.