Cisco's previous quarter results were what the street was expecting, but their forwarding looking sales projections were way lower than what was expected.  Cisco is always conservative with their forward looking statements, so that was not surprising.  However, the fear in the stock market of a major recession is punishing this stock relentlessly. 

The NASDAQ has been seriously punished from high to low.  It is down 19.7% from high to low, officially in bear market territory. 

There could be over 200 points more of a downside to the NASDAQ.  If this happens, we will get some buying opportunities not seen in over 6 years.

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