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Technology Stocks : Ciena (CIEN)
CIEN 297.16-0.5%4:00 PM EST
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To: jian xu who wrote (139)4/30/1997 9:05:00 PM
From: Jon Huang   of 12623
 
Jian,

I don't think this is the case of shorts covering. Not on 1.5 million shares. It's usually very difficult to short an IPO stock, period. The stock hasn't even been IPOed for 6 months yet and I really doubt much of the shorting going on right now. The short interest would probably only represent a small portion of the entire public float.

It triggered my stop buy order today and it's just one of those technical trend reversal.

Jon
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