Cascade Communications (CSCC) Message Board

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Technology Stocks : Cascade Communications (CSCC)

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To: James Connolly who wrote (3156)	3/29/1997 10:49:00 AM
From: Glenn D. Rudolph	of 3743

Was Cascade over bought before the stock went down or is the decrease entirely due to the overall state of the network stocks ?? In other words when the stock goes back up will it hit the same highs i.e $90's ?? James, This is somewhat of an opinion. My opinion is $90 for CSCC was too high and I did short the stock at that price. However, I covered at around $70 and then later sold naked puts for a strike price of $50. It was my estimation that CSCC is a $50 stock. I believe the market momentum took the stock too high ie. $90 and then too low $24. Based on the present information I have, I believe CSCC is worth about $40 -$50 now and likely more in a few years. The real issue is what the market believes because they will establish the price. I am holding all my positions long from $50 on down. Glenn

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