Symantec Drops on Revised Outlook

[Stocktrading101]

Here is a clip of news I found over at marketwatch.com on Symantec, the stock is down some 12% as of about 1:00 PM EST.

"Symantec Corp. shares plummeted Tuesday, falling 10% after the security software company released preliminary earnings and revenue figures that disappointed investors.

Cupertino, Calif.-based Symantec (SYMC) said it now expects to see earnings of 10 to 11 cents a share for the third quarter ended Dec. 29, compared to earlier expectations of 14 to 15 cents a share, and projected revenue at $1.29 billion to $1.31 billion, compared to a previously anticipated range of nearly $1.315 billion to $1.345 billion in revenue."

Link to Whole Article

[StockJunkie]

Is Symantec a buy at $17 if it heads there? Check out the gap spread from July 06, and after yesterdays plunge below the 200 moving average, I dont see any other effective buypoint for value.