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Strategies & Market Trends : Position Trading Forum

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To: Paul A who wrote (4685)	10/29/1998 10:07:00 PM
From: Merritt	Read Replies (1) of 7247

Paul: I had a different take on CIEN and sold it today at 16 7/16 after it failed to break above 16 1/2 on the second try. It's prior spike up topped at 16 5/8 and then gapped down the next day, so I was expecting other traders to take their profits because it didn't reach its most recent high. But since I sold my shares, it will probably gap up tomorrow.<G> If it does I'll watch to see what happens, but I anticipate a sell-off (I guess that's pretty obvious, or I wouldn't have sold). If it does gap up, I'd watch it like a hawk and exit on any weakness. BWDIK. Good luck, Merritt

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