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: Robert Ling who wrote (11366)	7/25/2001 11:59:33 PM
From: chojiro	Read Replies (1) \| Respond to of 12623

I've personally found that using PE solely to time stocks is a most excellent way to lose money. If that was my sole reason for being short I would not have covered part of my position today. Even though the technicals are extremely weak here, I gave some respect to bouncing from the lows today which I was waiting to test. If successful, I don't know where it might run to. To be painfully honest, and I know everyone is going to want to jump on me for this(but probably won't), I think it will be extremely difficult for CIEN to ever see anything higher that the low $50s for a long long time, if ever. I'd like to point out that where PE is used in the context of growth companies it is more conventional to use the forward PE not TTM (Barrons & WSJ do) A PE based on TTM is not very meaningful in the valuation analysis of >>>growth<<< companies. Forward PE is a load of garbage right now(if you will excuse my rudeness). No one is giving future guidance. Everyone is meeting lowered guidance and keeping their mouths shut about the future. I've heard some say it is because of Reg FD, I think that is a load of BS. I think these CEOs/CFOs either have no clue or they know we are headed into the dumper and do not want to admit it. This is of course the opinion of someone who holds a short position in CIEN, so take it FWIW.