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OK, who is ready to give thanks?

The Nasdaq Composite fell another 70.30 today, or 5.1%, to 1,316.12. That makes 167 points, or more than 11% in just two days. The index is now down 464 points, or 26% since closing on Election Day at 1780.12. Since peaking at 2859.12 on Halloween 2007, the Nasdaq is down 1,543 points, or 54%.

In case you were wondering, the Nasdaq’s post-bubble low came on October 9, 2002, at 1114.11. That’s only 202 points away, which at the rate we’re going we could hit by Turkey Day.

What’s wrong? Everything is wrong. As I was driving into the office this morning, NPR’s Mor

Given how popular porn Web sites are on cellphones, we figure there might be an audience for the new "Victoria's Secret TV" lingerie model channel, launched by CBS (CBS) and Qualcomm (QCOM) on its MediaFlo mobile TV service. In fact, people might actually pay for that kind of stuff.

The problem: You need a special phone to watch it, so there's not really such a thing as a free preview or an impulse purchase.

Like the rest of MediaFlo's mobile TV service, it's only available on a few special phones, via AT&T (T) and Verizon (VZ). Which means you either already need to have a MediaFlo-compatibl

A big deal for Skyhook Wireless, whose wi-fi-powered location technology is inside gadgets like Apple's (AAPL) iPhone and iPod touch: It's signed a deal with mobile chip giant Qualcomm (QCOM), which allows Qualcomm to build Skyhook's technology into its mobile GPS platforms. That could allow more mobile phones and other gadgets to use Skyhook as a complementary/backup technology in addition to GPS -- the way the iPhone uses it.

No projection of how many devices this will eventually ship with, but it's a great deal for Skyhook. And, if things work out, a possible exit strategy for Skyhook, wh

Filed under: Major movement, Bad news, Industry, Motorola (MOT), Nokia Corp. (NOK), Research in Motion (RIMM), QUALCOMM Inc (QCOM), Options, Technical Analysis

Nokia (NOK) this morning said out loud what everyone in the mobile phone business kind of knew already: demand in 2009 is going to be down from 2008. This is an industry that had become accustomed to seeing unit growth in the 10% plus range; to see the industry’s most important player forecast a down year is a shocker, even if you suspected that something like this was inevitable.

Nokia’s warning is weighing heavily on a variety of players in industry: other phone companies; wireless carriers; chip makers; and even contract manufacturers. Here’s a look at the damage:

• Nokia is down $1.66, or