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Strategies & Market Trends : Roger's 1998 Short Picks
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To: Roger A. Babb who wrote (2308)2/5/1998 1:07:00 AM
From: Eric Klein  Read Replies (2) of 18691
 
Roger,
Are you short Ciena (CIEN)? They are a one product company (dense wavelength division multiplexing systems for fiber-optic communications networks). Now facing competition from Lucent which is offering a superior product. Their p/e is about 50 (not that high in these nosebleed times), but their Price/sales is 15. This tells me that they have very high margins which are bound to get squeezed with the competition.

CIEN stock has been losing ground the last couple days even with the strong tech market.
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