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This column was originally published on RealMoney on April 18 at 1:21 p.m. EDT. It's being republished as a bonus for readers.

Real run in the complex of









, or just another false rally? I don't know about you, but I am taking my cue from my friend Apjit Walia, just back from Asia.

Apjit, if you don't know him, resides at RBC but is one hard-working analyst who kicks the tires where this stuff is made.

He's come back and he's telling me Conexant is alive and well, if not smoking. I continue to believe that Ciena is ripe for the picking down here. I don't understand the selloff in



. I believe the market is sensing that the



miss is just Bookham's.

I also believe that you have to get in



before it goes back over $5. Talk about a perfect pullback. Don't forget JDSU -- nice note out from Citigroup on that quarter. They are talking about nice revenue and margins.

Apjit reminds me that






are still strong, and he points out that



, which I own for

Action Alerts PLUS, may be the strongest of all.

This group has refueled. It is ready. This is the first day of a comeback that is very for real. Monday's

shakeout got rid of so many weak hands that we are ready to roll.

Random musings:

Of all the mineral and mining stocks out there, I believe



is still the cheapest!

Please note that due to factors including low market capitalization and/or insufficient public float, we consider Mindspeed and Bookham to be small-cap stocks. You should be aware that such stocks are subject to more risk than stocks of larger companies, including greater volatility, lower liquidity and less publicly available information, and that postings such as this one can have an effect on their stock prices.

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