Ciena (CIEN) Message Board

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Technology Stocks : Ciena (CIEN)

CIEN 201.71

+3.1%

Dec 5 4:00 PM EST

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To: Doug Gallian who wrote (5152)	11/3/1998 1:04:00 PM
From: DanZ	Read Replies (1) of 12623

<With all the volatility in the first hour, anyone care to speculate why the price has literally frozen at $19 -$19.25?> This is actually typical behavior for a stock that has made a huge run and then given a bunch back. The likely reason is that it is consolidating. I covered 2/3 of my short this morning at 18 3/16 and am just waiting for it to do something. I'll short again between 20 1/2 to 21 1/2 or cover the last 1/3 between 15 1/2 and 16 1/2. Since the stock is stuck in the middle of it's trading range, I imagine a lot of traders are doing like me...just waiting for it to go one way or the other. Best to all, Dan

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