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Daily Chartist: JDS, like Corning, searches for bottom

Published on July 11, 2001; Published on January 23, 2011

Telecom equipment manufacturers were set back on news Corning plans to cut 1,000 jobs, close three plants, take a US$5.1-billion charge and halt its dividend in an attempt to curb loses.

Topics :: JDS Uniphase , Kirn Dhaliwal Associates , Nortel Networks

The fibre-optics company also said it would miss second-half estimates in 2002. Naturally, amid all the selling pressures in the general market, the news weighed heavy on Nortel Networks and JDS Uniphase. On Wednesday, we'll take a look at the charts of all three.

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Dhaliwal is president and chief market strategist of Kirn Dhaliwal Associates. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. At time of publication, neither Dhaliwal nor Kirn Dhaliwal Associates held positions in any securities mentioned in this column, although holdings can change at any time. While Dhaliwal cannot provide investment advice or recommendations, he invites your feedback.

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