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

To: Kachina who wrote (2919)	9/11/1998 12:40:00 PM
From: Diabolique	Respond to of 12623

>>Now if you want to know why they are dumping, that is the billion dollar question.<< Program trading systems and a little bad news in a down market. Not that simple, Merrill Lynch was dumping for 2 days. This is not program trading, a big institution(s) is unloading.

To: Kachina who wrote (2919)	9/11/1998 12:42:00 PM
From: Curbstone	Read Replies (1) \| Respond to of 12623

I think Birck will just wait for awhile, keeping quiet publicly, and see if CIEN rebounds in price. He will only renegotiate if he has to. It CIEN hasn't come back to the high 20's or low 30's by mid October he will need to act. By then we should see something "material" develop, either in new contracts ratified, new product announcements, or another offer from some other suitor. I just wonder how long the CIEN shorts will camp out waiting for a drop to single digits while (if) the dow continues its downward slide. There are too many tasty morsels floating around to continue to sit short on a stock already at the bottom. Mike