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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (17777)	9/15/1998 8:27:00 PM
From: j g cordes	Respond to of 70798

Hi Tom, CIEN still has good technology, 11 customers, good balance sheet and 200 mil in cash. Its not as compelling a takeover because the business overall has backed off in my opinion. It was too expensive in the original TLAB deal, then some of the reasons.. contracts and business, began to dissapear. Its an interesting story there somewhere. I think it needs to announce a contract or two... or three.. there're probably some short postions that need to be convinced the party is over. Note there are a lot of Jan 15 calls building open interest. They could have been sold or bought. Either way the tension is there which is good... I'd guess a return to under 20 with some positive news that life goes on after being stood up.