on the last Friday in June. Friday was ranking day where Russell calculates the market cap of all the stocks in the market to determine which stocks are entering/leaving the Russell indexes. Hedge funds also calculate the market caps on the days leading up to Friday and they try to anticipate which stocks Russell will add/remove. The actual lists are not released until the middle of June but starting on Friday hedge funds buy and sell from their own internal rankings in an attempt to get in front of the rebalance. This may have had some impact on the Russell on Friday. The Russell 2000 failed at support and is now broken.

The decline in the big caps and small caps at the same time is a bad sign.optical components for telecommunication applications. Finisar Corporation markets its products through its direct sales force, as well as through a network of distributors and manufacturers' representatives to the original equipment manufacturers of storage systems, networking equipment, and telecommunication equipment, as well as to their contract manufacturers. Company description from FinViz.com.

We played Finisar several weeks ago and got caught in the downdraft on China worries. Reports out of the sector suggested orders from China had slowed. Shares crashed from $35 to $21 over the period of about six weeks. Raymond James said the selloff is overdone and the worries over China are overblown.

China is on track to network 120 major cities with populations of more than one million. That will take a lot of networking gear. The directives have