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Technology Stocks : Ciena (CIEN)
CIEN 178.17+1.0%4:00 PM EST
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To: Jim Rathmann who wrote (510)7/14/1997 4:32:00 PM
From: Mama Bear   of 12623
 
>>>The downturn today at 54+ again shows the trader range from $45-$54.<<<

I agree with your range. Also note that it was a particularly strong day for techs. Actually the downturn came at 54 1/2, which is where I had my stoploss. I got lucky however, ask came off 54 1/2 for me to get a fill. After watching that, I shorted some more at 53 3/8, but I won't be shy about covering this time at around 48...hmm well we'll see, maybe 47. Notice how the longs have stopped chattering about this stock? This security rose literally 10+ points in one week, and no chatter about it going to 100, either here or on the MF CIEN board. Only post today there asked where the smart money was bailing. I guess I'll stick it out.

FWIW

Barb
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