I know this is shocking, but these events are bullish, not bearish. Any time you go from denial to acceptance, that's tantamount to putting in a bottom. AT&T's business, the robust add-line business, is never coming back. That's OK, there's tons of data business to do. Corning's long-haul fiber business is complete; why build more? Both companies have moved on, AT&T to cutting expenses faster than its revenue declines, Corning to big-screen televisions.

That is why the selloff in Corning was unwarranted and why I said on "Kudlow & Cramer" Thursday night that people should be buying, not selling AT&T. The stock powered up after I gave it the direction, but it's still cheap.

I know that the market likes only growth. I know you could consider AT&T the way you consider BP Prudhoe Bay Royalty Trust (BPT - commentary - Cramer's Take): a declining, wasting asset.

But in the interim, you are getting a nice dividend and a management that understands how to sell itself for a premium if the opportunity presents itself. With Corning, you get a reconstituted company that has a good, conservative management team.

I like 'em both, even in this difficult tech-telecom environment.

1 What would best describe your stance heading into the coming week of trading? Bullish Bearish Neutral 2 Which of these sectors do you think is set to move up in the coming week? --Choose One--Aerospace and DefenseAirlinesAutomobilesBeverages and Food ProductsBiotechnologyCommercial BanksComputers and PeripheralsConsumer NondurablesEnergy Equipment & ServicesHMOs and HospitalsHomebuildingInsuranceIntegrated OilInternet, Software ServicesInvestment Bankers and BrokersMediaMultiline RetailPharmaceuticalsPrecious MetalsSemis, Semi EquipmentTelecom EquipmentTobacco and AlcoholWireless CommunicationsUtilities 3 Which of these sectors do you think is set to move down in the coming week? --Choose One--Aerospace and DefenseAirlinesAutomobilesBeverages and Food ProductsBiotechnologyCommercial BanksComputers and PeripheralsConsumer NondurablesEnergy Equipment & ServicesHMOs and HospitalsHomebuildingInsuranceIntegrated OilInternet, Software ServicesInvestment Bankers and BrokersMediaMultiline RetailPharmaceuticalsPrecious MetalsSemis, Semi EquipmentTelecom EquipmentTobacco and AlcoholWireless CommunicationsUtilities View the results without voting