Ciena (CIEN) Message Board

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Technology Stocks : Ciena (CIEN)

CIEN 209.84

-2.9%

Dec 16 4:00 PM EST

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To: chojiro who wrote (10346)	2/14/2001 4:53:41 PM
From: t2	Read Replies (1) of 12623

chojiro, I am trying to figure out whether we have seen a bottom in the higher PE stocks. If there is a bottom in these stocks, that may mean a reluctance to sell and if you monitor the short positions in these stocks..... I don't know what your experience in watching short covering rallies but they are basically the collapses in the stocks IN REVERSE but happen a little faster. I have seen some stocks make huge gains in a week---like 100% when short interest gets high. I don't know if we are there in a lot of stocks but if the selling dries up....lookout! Today's move could be the start of a move into tech stocks by some big funds and I would watch it carefully as it can turn into a stampede accompanied by the short covering rallies. good luck

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