CIENA Update: Q3 Guidance cut, below analyst expectations

I have covered Ciena stock for the past few months, and have warned that something doesn't add up. In my recent more comprehensive review of this stock I warned of a roll over.  Also a orange trend line that was something to watch in the upcoming months.
With a June 8th, announcement that was not unexpected, Q3 guidance was cut to bring the stock back to a reasonable valuation.   Not so surprising is the gap over the orange trend line that has been extended.

Also not surprising is the sell off took the price back down to the May 2010 high around the $19 range. 
When the quarterly report comes out I will look deeper into their excessive levels of debt and future demand prospects.