3SOF

Ciena Corporation (CIEN). The Group's principal activity is to provide network solutions to telecommunications service providers and enterprise worldwide.

CIEN is a falling angel from the 2000 bubble. It has fallen from a high of $151 to a low of $1.64 made about a month ago:



Since that low the stock is starting to come back from the dead and on Friday it rose 9% on heavy volume. Every short term speculator must jump on the bandwagon when he sees a chart like this:



It is one powerfull breakout of that descending trendline. The lows around $1.7 held and finally CIEN has a technical pattern that clearly favors the bulls. I will buy CIEN at tomorrow's open without hesitation.

Trading Plan:

1) Buy CIEN at the open
2) Sell when we get 2 consecutive closes below the 50 day moving average, which is the red line on the chart.

David Randolph
www.3stocksonfire.org

looks like a nice buy ! good luck for you and me 

btw, nice lovely site

I have made and lost a great deal of money on Ciena. 

I am now looking at OMNI, an oil service (seismic and aircraft) company that appears to be positioned to move well over the next 3 to 6 months, depending upon the intensity of the hurricanes in the gulf.

Quote from: nofear on May 01, 2005, 11:03:25 PM

looks like a nice buy ! good luck for you and me 

btw, nice lovely site

Hi Nofear, let's see how it closes...

Quote from: rcredle on May 02, 2005, 01:34:36 PM
I have made and lost a great deal of money on Ciena. 

I am now looking at OMNI, an oil service (seismic and aircraft) company that appears to be positioned to move well over the next 3 to 6 months, depending upon the intensity of the hurricanes in the gulf.

Hi rcredle,

OMNI has an attractive chart...

I'm looking for a resistance level near $1.90.. but if it breaks up, then I think it will move very fast.

Best regards

I want to be the man with the last word on every thread started by me on this board, so I'm going back and answering all unanswered posts.

I see now that CIEN didn't make much headway after my purchase and sell of the stock. rcredle's OMNI couldn't go beyond the $3 resistance level and the stock is down sharply from there.

will it continue?

CIEN broke out of a range yesterday, with volume above average of 21 million plus shares traded. The technical target of this breakout is $2.90-$2.17 = $0.73+$2.90 = $3.63. The stock closed yesterday at $2.99:



Taking a look at a medium term chart we can see we're buying high, but not as high as many folks did in the past  ... and now the trend is a friend of the bulls, not the bears:



The stock was down a bit after hours, I hope it stays that way so I can buy below $2.99. Attention, I won't buy IF the open is above $2.99, if there is a gap up on CIEN, I'll pass this trade.

So, the plan is to buy at the open, IF the open is =< $2.99, otherwise don't buy and wait for tomorrow's opportunity.

Very surprised to see you bought CIEN since it opened above $ 2,99  Being $ 3,-

Amarens

Quote from: Amarens on December 01, 2005, 10:30:24 AM
Very surprised to see you bought CIEN since it opened above $ 2,99  Being $ 3,-

Amarens

I forgot a detail ... I sent the newsletter and forgot to say at it that I wouldn't buy if the stock were to open above $2.99. I went out for lunch and called Ramsburg for him to execute the orders. So he bought the stock, like anybody who wouldn't  read the entire text would  or maybe  , we'll see.

I'll go for the  . Was just surprised because you always do what you say, which makes this all so easy to follow I think. I already owned them, so I'm happy with your pick because it gives me extra support 

Keep up the great work!
Amarens

Thanks Amarens, it was really surprising to see the stock rebound at this moment, the intraday action really can fool you 

Even now I was day trading the DAX futures (I do it just for sport, I need it like I need to breathe) and the DAX looked very weak relative to the US, but it was a foolish play, shorts got tired and bulls took over as I write.

Well, go CIEN, go 

Ok... i'm IN @ 3.00 sold NVAX for some profit  Yahooooo...........

BTW..just received my 3SOF T-shirt

Quote from: David Randolph on December 01, 2005, 10:38:03 AM
I went out for lunch and called Ramsburg for him to execute the orders. So he bought the stock, like anybody who wouldn't  read the entire text would  or maybe  , we'll see.

Sorry...

I have to apologise everybody about this mistake, specially David who trusted me to execute the plan for today... :-(
I was very short on time while executing the orders, and I had read the CIEN analysis quite fast (too fast in deed)... It wont happen again !

Quote from: Ramsburg on December 01, 2005, 10:34:33 PM

Quote from: David Randolph on December 01, 2005, 10:38:03 AM
I went out for lunch and called Ramsburg for him to execute the orders. So he bought the stock, like anybody who wouldn't  read the entire text would  or maybe  , we'll see.

Sorry...

I have to apologise everybody about this mistake, specially David who trusted me to execute the plan for today... :-(
I was very short on time while executing the orders, and I had read the CIEN analysis quite fast (too fast in deed)... It wont happen again !

Just 1 tick from from the previous close its not a big deal... no need to apologize