Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Ciena (CIEN) -- Ignore unavailable to you. Want to Upgrade?

To: W Sheffield who wrote (7217)	6/7/1999 11:49:00 AM
From: Nicholas Rauch	Read Replies (1) \| Respond to of 12623

I hope we find good news and CIEN is able to maintain this level, to go higher still. Holding July 30 calls, that are looking better today. If I hear anything, I'll post. good luck all Nick

To: W Sheffield who wrote (7217)	6/7/1999 1:06:00 PM
From: nick cash	Read Replies (4) \| Respond to of 12623

the action in cien is rooted in the technicals. the stock rallied to 29 1/4 in late feb and then gave up a good chunk and fell back to ~17 in april. that 29 1/4 was the recovery high and hence a very important resistance level. the stock went thru it 5/21 (i think) but then pulled back the next day (a predictably unsuccessful test given the run it had had and the overall mkt). that said, the stock showed tremendous resilience over the past couple of weeks while other techs pulled back (and some broke down). that strength has given longs (and potential longs) a lot of confidence in teh underlying strength of the stock. so...... we pierced 29 1/4 on friday and after some trading today it became obvious that we were not turning back. we broke thru and the volume poured into the stock (a textbook breakout). on the charts, i would hope/expect (market willing) to see us trade up to the 38-39 area. that level is serious resistance again; as we have a big gap in the charts there. a break of that level (which, i would expect, would require a breather) would be dramatic and possibly get us back into the 50's. getting a little ahead of the situation, but just wanted to give a full view of what i see from here. the only thing that would make me turn negative would be if we turn around in the next couple of days and break back below 29 1/4 (unlikely). for disclosure, my accounts are long (duh) cien @ ~ 11 1/8. and, of course, all imo only....nick