Greg,
Congratulations. I think CIEN will be a good medium term short hold. Besides the rumor you posted, there's the news last night, neither of which will inspire confidence in investors to take long positions. Additionally, the whisper number is $0.11, consensus $0.12. So, there's several things in your favor here, and if the whisper number is correct, I think you'll be smiling in.....uh......short order [sorry, couldn't help it <gg>], as CIEN drives headlong towards 40.
Intraday, CIEN continues to look weak, and looks to me like it will trade sideways and fail at its descending moving averages late in the session.
Me, got up late, missed the open, shorted anyway. I just couldn't convince myself that CIEN will present any better entry, though I would have liked to see it rally some. But there is now too much bad news/rumor going into what is shaping up to be an earnings disappointment, or at the very least, an earnings warning going forward.
DayLate'nDollarShort.com <:-o |
