The telecom sector has sunk to a 3% loss, which stems mostly from a precipitous drop in MetroPCS (PCS 13.33, -0.93). Disappointment in the stock follows the company's latest quarterly report on subscriber growth.
That is the culprit, so this would be an excellent buying point. VZ is down because of ex-div, win is down, T is down, etc. Anyway, it is not to worry because ex-dividend is coming soon enough and we will have recovered it all and more. It was headed to $48. Takes a little guts sometimes to buy more, and it might sell off some more, but the big selling occured at 11:am. when 200,000 shares were sold. That started it. Same thing with Win, now you only seen shoots of green and decent volumes coming through. It is down only $1.14.