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Technology Stocks : Stock Swap -- Ignore unavailable to you. Want to Upgrade?

To: Judy who wrote (12245)	2/20/1998 1:02:00 PM
From: Andrew Vance	Read Replies (4) \| Respond to of 17305

AV -Whoa Nelly-that one slipped by. CIEN is part of my universe but off radar. I gotta research this. This comes completely out of left field so I have no response until I get my act together. I am completely in the dark on this one. Sorry, but I will get back on this. THANK YOU JUDY!!!!!! I must have been in a fog. I don't have the TV on and have not been paying close attention to this. I also blew off the conference call I think, since earnings were released today. VBery good quarter with problematic forward looking quarter. MAjor customers Sprint, T, and WCOM backing off on orders which may soften the upcoming quarter. I do not see a dead cat bounce due to the volume of stock that has already traded (19 million plus) vs average daily volume of 1.7-1.8 million. I think we might see the entire float change hands in short order forming a new price base. Definitely looks like a mass bailout by some institutions and an exit by the BIG MO players. This is a momentum stock that probably is being deserted right now. That makes for a good play down the road but not necessarily a DCB. I was not properly positioned in this stock in the mid to high 40s and regretted it when it went into the high 50s. The recent quarterly earnings were great, IMO, and are an indicator of future perfromance down the road. They are experiencing a detour from their customer base but not a derailment. You are seeing pushouts but not cancellations leading to contracts with other vendors. Therefore, this too shall pass. I do not know if we will see a DCB but I will use this opportunity to position myself in this stock for the next run up. I am content to wait for its recovery (hopefully in short order) and take a 25% gain, if it goes up to its previous level. Thank-you for bringing this to my attention so I could jump on it for a long position. AV