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

To: Bald Man from Mars who wrote (2758)	9/9/1998 1:48:00 PM
From: nokomis	Read Replies (1) \| Respond to of 12623

Ciena spokesman confirms deal with TLAB still on. cnnfn.com

To: Bald Man from Mars who wrote (2758)	9/9/1998 1:57:00 PM
From: Paul Shread	Read Replies (2) \| Respond to of 12623

I'm neither long nor short; owned it once for a very profitable 100%. I couldn't begin to tell you where this is going, but I wouldn't touch CIEN here. The market's acting like the deal's not going to go through at all, that or they've taken about a 40% premium out of the deal based on increased uncertainty. I could definitely see the deal falling through or getting voted down. I'm not sure if CIEN would agree to a renegotiation -- they were awfully adamant during initial negotiations that they be treated like a major player, although certainly wallet takes precedence over ego for most of us. I might not buy TLAB here either, much as I like the company; if the deal does go through, it gets hammered, if it doesn't, jump on board then for a good ride. I don't see any short-term plays here at all. The only possibility is maybe buying CIEN $25 or $30 calls in the Nov.-Jan. timeframe. And don't bet the house on them either. I guess the one question is, how important is this technology to TLAB (the answer seems to be very, and Birck is very good at predicting market direction) and can they get it elsewhere? This is the oddest behavior I can remember for a multi-billion-dollar deal, and where it's going is anyone's guess. Your thoughts?