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Technology Stocks : Ciena (CIEN)

CIEN 230.56

+2.4%

Jan 9 4:00 PM EST

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To: Dakota Sullivan who wrote (1337)	2/20/1998 4:52:00 PM
From: craig crawford	Read Replies (2) of 12623

<< Craig, I am not short but I do know of at least a couple of funds who will be puking this baby up for the next six months. Problem here will be that many individuals and funds are in CIEN above 45 who now are scared/turned off and want out >> 100 million outstanding, 28 million traded today (yeah, yeah double counting). Many shares still closely held by insiders and plenty of fresh money which will step up in the low 40's. Seems like a LOT of people got out today. Some already got out on the LU announcement a week or two ago. << They will create resistance on the upside all the way back up to high 50s >> Cisco dropped by 50% in 1994. Dell once dropped 50%. Didn't CPQ have some troubles in it's early days? (I'm not old enough to remember). They have made incredible moves since their stumbles and so can CIEN. CIEN hasn't even really stumbled! Maybe instead of their profits growing a couple of hundred percent they slow down to 40-50% for 1998. At a price of 42 I would be happy with 40-50% growth.

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