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

To: Doug Gallian who wrote (5152)	11/3/1998 1:01:00 PM
From: mmeggs	Read Replies (2) \| Respond to of 12623

Agreed, this is weird. But someone is doing an awful lot of buying here at about 19. 22 mill. shares so far today. This is not over yet.

To: Doug Gallian who wrote (5152)	11/3/1998 1:04:00 PM
From: DanZ	Read Replies (1) \| Respond to of 12623

<With all the volatility in the first hour, anyone care to speculate why the price has literally frozen at $19 -$19.25?> This is actually typical behavior for a stock that has made a huge run and then given a bunch back. The likely reason is that it is consolidating. I covered 2/3 of my short this morning at 18 3/16 and am just waiting for it to do something. I'll short again between 20 1/2 to 21 1/2 or cover the last 1/3 between 15 1/2 and 16 1/2. Since the stock is stuck in the middle of it's trading range, I imagine a lot of traders are doing like me...just waiting for it to go one way or the other. Best to all, Dan