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

To: Agenda who wrote (9665)	10/13/2000 5:26:19 PM
From: jbkelle	Respond to of 12623

jduffy...I don't think the valuation can be justified on the basis of current earnings or earnings growth alone, although both are spectacular. The current high value is based at least partly on the value of the company as a takeover target. There are many other overpriced stocks that would make better shorts. I bought more CIEN at 18 after the TLAB fiasco and have taken 4X my money back out in the ensuing time...and I still have shares to let ride. I don't want your short to work out, but if it does...good for you. Don't forget to preserve capital in these volatile times...jbk