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Strategies & Market Trends : STEAMROLLER'S DAYTRADES -- Ignore unavailable to you. Want to Upgrade?

To: Wayners who wrote (1124)	9/24/1998 11:14:00 PM
From: Argonaut	Read Replies (2) \| Respond to of 1561

<<What do you think of the price action in CIEN now?>> CIEN's daily trading range has narrowed the last two days and volume is down, I expect it to drift lower with contracting daily ranges over the next several weeks. The recent spike was on rumor and speculation. Barring any substantial news/merger/buyout the issue will probably anchor for awhile just above its 52 week low, pump the bilges, take on fresh ballast, then slowly steam back toward 20-25. Probably a good long term hold if one cost averages both down and up. I am long and holding a few low cost shares leftover from daytrading profits, with a stop @11, would rebuy at lower levels. Good Luck Trading, Argonaut