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Technology Stocks : Ciena (CIEN)
CIEN 178.17+1.0%Nov 21 4:00 PM EST
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To: Ibexx who wrote (498)7/7/1997 4:58:00 PM
From: Brian Pastor   of 12623
 
I agree. On 8/7 80,000,000 shares released from lock-up. On 8/6 company will release earnings (expect them to beat the street and have rosy outlook). Even if they beat the hell out of the street, kill it, I would guess the 80,000,000 shares are going to drive the price down, at lease temporarily as people get the money to pay their mortgages, buy cars, diversify, etc. My play would be to wait until August 5 or 6th, then buy some puts and sell some calls.
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