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

To: MarkC who wrote (9412)	8/8/2000 10:34:08 AM
From: jghutchison	Read Replies (1) \| Respond to of 12623

Mark, Not much to go on by looking at the corv chart. However, cien was fighting resistance at around the 149 level. A breakout above this level would normally lead to a sharp runup. I believe we are seeing that this morning. Next resistance is in the upper 160's, then 180's. If market conditions remain favorable, the odds favor a runup into the earnings report on the 17th. If Ciena reports earnings comparable to Nortel's, which was a blowout, the odds would favor a move up to new record highs. Valuation analysis continues to show Ciena as a screaming buy relative to its peers. Time has a way of smoothing out inequities with equities. Jack Hutchison