Ciena (CIEN) Message Board

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Technology Stocks : Ciena (CIEN)

CIEN 193.35

-4.5%

Dec 3 4:00 PM EST

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To: gbh who wrote (3303)	9/18/1998 4:28:00 PM
From: L.B.Nguyen	Read Replies (1) of 12623

Eventhought we closed down a 1/4, we closed on an uptrend. The bottom is near. Short is starting to cover. Can some TA expert comment on this ? or is it wayyyy too early ? If you buy the stock now at 11.5 and sell OCT 12.5 option for 1.25, your net cost by the the middle of next month will be ~10.25. Assuming it moves back up to 12.5 next month, your gain will be 2.25 points for less than a month. That is ~20% return in a month. If it continue to drop to 10 then your loss would be .25 or ~3%, then sell Nov 12.5 option to break even or gain a 1/2 by end of Nov. With this trending down in volume, I will be very surprise to see it it drops to 9. However, if it does then "back up the truck to buy a ton of shares.... then sit back to relax...." not too bad of a risk in this choppy environment. I am curious to find out the volume of Sept shorts. PS: please trade at your own risk....

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