Lizard King's Trading Swamp Message Board

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Strategies & Market Trends : Lizard King's Trading Swamp

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To: Sigmund who wrote (4563)	2/20/1998 3:34:00 AM
From: Jess Beltz	of 7396

For those of you with a strong stomach, and those who like to play dead-cat-bounces, the following might be an interesting "special play" situation. Ciena announced earnings yesterday that beat estimates handily. The earnings were released after market close, but the news about the data on the 10k must have leaked, because the stock rose steadily through the day to close at 58 1/8, up 3 1/8. However, in the CC after the release, Ciena warned of a drop off in orders by WCOM (I think), and the stock traded in the after market OFF 15 1/8!!!!! Now it may gain a little before the bell, but it looks like it's going to open down a lot. I've been looking to get into this one, and I may have to do it. As for the market punishment, it may think it sees a shift in orders to Lucent, which is also up 2 yesterday and on a tear right now. jess

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