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

To: Ibexx who wrote (11200)6/20/2001 5:02:27 PM
From: jghutchison  Read Replies (2) | Respond to of 12623
 
Ibexx,

It is not just ML. This phenomenon is prevalent with just about any brokerage house. Their results are awful to put it mildly.

They always seem to be 180 degrees out of phase, in spite of all their resources.

Downgrading a stock at a perceived market turning point is just plain stupid, and that is exactly what the Merrill analyst did.

It makes you wonder.

Jack



To: Ibexx who wrote (11200)6/20/2001 5:14:26 PM
From: Ibexx  Respond to of 12623
 
This morning, a short-oriented online newsletter recommended CIEN as a ripe "short" if price dropped below $33. (Aggressively, they said).

Thus ML did its best trying to push CIEN over the cliff during the early morning trading. It was a cliff-hanger alright.

I think the stock has put in a bottom, much like JNPR did a few days ago.

Ibexx

Ibexx


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