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

To: gbh who wrote (3303)	9/18/1998 4:28:00 PM
From: L.B.Nguyen	Read Replies (1) \| Respond to of 12623

Eventhought we closed down a 1/4, we closed on an uptrend. The bottom is near. Short is starting to cover. Can some TA expert comment on this ? or is it wayyyy too early ? If you buy the stock now at 11.5 and sell OCT 12.5 option for 1.25, your net cost by the the middle of next month will be ~10.25. Assuming it moves back up to 12.5 next month, your gain will be 2.25 points for less than a month. That is ~20% return in a month. If it continue to drop to 10 then your loss would be .25 or ~3%, then sell Nov 12.5 option to break even or gain a 1/2 by end of Nov. With this trending down in volume, I will be very surprise to see it it drops to 9. However, if it does then "back up the truck to buy a ton of shares.... then sit back to relax...." not too bad of a risk in this choppy environment. I am curious to find out the volume of Sept shorts. PS: please trade at your own risk....

To: gbh who wrote (3303)	9/18/1998 4:45:00 PM
From: Glenn D. Rudolph	Read Replies (2) \| Respond to of 12623

Glenn, this stock continues to bleed. There are buyers now, but sellers still have the upper hand. The small to mid networking sector is a mind field these last few months. I'm wondering what I am doing here. Currently holding PAIR at 9 1/2 and CIEN a little over 16. I guess ASND is keeping me whole. Also, looking to re-enter CSCO soon. Are you still in AMZN? Gary, I am long AMZN but I did write some 45 Sept covered calls so 1/2 my shares should be called away. I also have PAIR and CIEN. I am confused at why I permitted myself to hold it for this much loss. I am being cautious on CSCO. I belive Asia may hurt thema bit this quarter and then will buy after that. Pure speculation there. I have actually done well on the long side recently. Bought JBL, ORCL and INTC about a month ago. Also, AOL which I feel is over priced but the market loves them.My largest problem is still my short AMZN. Glenn