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

To: James Fulop who wrote (5498)	11/18/1998 6:04:00 PM
From: Bud Fox	Read Replies (1) \| Respond to of 12623

I noticed the same thing. It appears that $16 appears to be the third corner of the flag pattern. Usually, this pattern precedes an upside breakout. Probably in the next couple of days. Good Luck

To: James Fulop who wrote (5498)	11/18/1998 9:51:00 PM
From: DanZ	Read Replies (1) \| Respond to of 12623

The CIEN chart looks fair to me. The main concern is that it closed below its 20 day moving average today for the first time since October 19 when it rallied above it. The 20 day moving average may now provide resistance and support is at about 12. This is not a very good risk/reward. I'm not suggesting that the stock will trade to 12, but I wouldn't hold a long position in this stock unless it moves back above 16 3/4. It would be even better if it closes above 16 3/4 before taking a position. I covered the last of my short position at 16 7/16 and my next move will probably be long when I think the risk/reward is favorable. Best to all, Dan