Panning for Auric: Another pick that wasn't golden: CIEN.
Message 11383196
On September 28, 1999, 'Auric' advised:
"Sell/SellShort CIEN with a $20 near term and $12 long term target."
Let 'em rip boyz."
CIEN closed on that day at $34.625. It never touched $20, let alone $12. No, the lowest it ever went after that call was $29.375 on October 14, 1999 (Did 'Auric' advise anyone to cover then? Has he ever?).
After that, in true Auric fashion, CIEN marched to a high of $189 in four months. The lowest it's been since that high is $79.25.
At its peak in March, the stock had gained 446 percent since the little blowhard made his call. A $10,000 short would then have cost $54,584.84 to cover. At the subsequent low, it still would have cost $22,888.09 to cover. Today, it would cost $42,781.23.
Dear little Auric, what is your guidance on this great call of yours? Should those who followed your advice still be holding CIEN short after 10 months?
Regards,
DWCraig |
