Being long here I can't say I disagree with you. But putting on my negative glasses ANIK is still selling at a PE of 16ish with y/y growth of 6% this qtr. Also, they don't pay a dividend which is a huge deal in this market. I think this whole dividend mania will come to a bad end but that's a different discussion.
Best advice I've ever gotten on the market was the simple technique of looking at each of your holdings quarterly and ask of each, "would i buy this if it's the first time I looked at it". With curent conditions in mind, you can buy Apple at a PE of 10 with a payout of what 3% most recently. Looks like they're taking from here and moving to what's percieved as the safer bets.