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

To: FR1 who wrote (11718)	12/14/2001 12:22:24 AM
From: cfoe	Read Replies (1) \| Respond to of 12623

Everybody went into today thinking that there would be no warning. Dsicalimer: I have only been long this stock, never short. I don't know how you can say that there was no "warning." >Every telecom company has announced major cuts in capex for next year. >JDSU just this week said that current quarter would not be the bottom and saw a further sequential decline in sales in their Jan-Mar quarter. >In their update at the end of the quarter, Ciena said that they saw reduced capex spending for next year but did not know how much of that reduced spending would be on [Ciena's] next-generation equipment or on [competitors'] last-generation stuff. >Lot's of analysts said that while current quarter looks good, guidance is key and problematic given industry condition. I know I heard the warning signs and luckily got out in the recent low 20s. I still think this is a potentially good investment, but not right now.