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

To: Fran who wrote (6765)	3/16/1999 11:21:00 AM
From: rag2rag	Read Replies (1) \| Respond to of 12623

Fran, I am not a TA guru. FWIW, I sold a small number of CIEN at 28 1/4 and then some at 27 1/4. I also bought some at 24 5/8. All this was after Sprint had announced their intentions to stick with CIEN for the current year and prior to the results of tests were announced for inter-operability of CIEN products. IMHO, the fundamentals are not adequately reflected in the price at these levels. I am tempted to add to my position. Please do your own DD.

To: Fran who wrote (6765)	3/16/1999 5:06:00 PM
From: James A. Shankland	Read Replies (1) \| Respond to of 12623

Where do you think the bottom will be on Ciena? Around the back, a little below the belt. More seriously, my take is that we've about paid the inevitable price for the dilutive acquisitions at this point, as well as the natural retreat from traders' profit-taking after an impressive runup. A couple of analysts seem to like these acquisitions a lot; if a consensus begins to build that they were a clever idea, that should support the stock price. It's reminiscent of when ASND bought SRA; the stock dropped back considerably, because people didn't really understand the reasoning behind the acquisition, and because people thought it made Lucent less likely to buy ASND. (Now, of course, LU has bought ASND.) So I'm bullish at today's prices. On the other hand, my opinion is that the market in general has become overvalued over the last couple of weeks; if the S&P500 falls 100-200 points some time in the next couple of months, CIEN will likely drop, also.