CIEN

[David Randolph]

No problem Fred, it was my fault, I forgot to write the specifics on the newsletter. There was some pullback, possibly due to the gap up, but the stock held and came back.

The candlestick left on the chart was a doji, which reveals indecision from traders. But, there's no doubt there was a bullish breakout in CIEN, possibly today traders will have less doubts about this and push CIEN higher.

I think CIEN presents a simple trading plan. The technical target of the breakout is $3.63, so I would take profits there. And the ascending trendline stands at $2.78, I would get out if the stock were to close below this level (which rises about $0.0235 everyday).

This plan has a 21.4% profit potential and a 7% risk. I'll take it.

[David Randolph]

Perhaps I'll take a slap in my face for what I'm about to do, but I won't stick with my plan on CIEN, I'll sell it at today's open. Why? Three reasons:

1) This stock wasn't to be bought in the first place, I made a mistake when I passed the instructions to you and Ramsburg, as you can read on the rest of this thread.
2) The stock made two dojis in a row, which means traders are undecided about the breakout and the uptrend.
3) The 3 SOF Fast December Edition started with a bad mood, I'm already losing 2.94%. I need to clear my head and the portfolio for 1 day and start over tomorrow.

[willey]

Hi David,
MISTAKE to sell CIEN!

It is going much-much higher!

Stay long & strong thru first few months of next year!

all JMHO, of course... buy VTSS as well ... buy TLAB as well ...

willey

[shawFund]

CIEN is clearly in uptrend but for me to take a position, I will wait for pull back at 10-EMA:

$2.85 for today.

[setravis]

This is looking nice. Took a bounce off the 50-dma,
and also of a 50% Fibonacci retracement.

Support @ $2.90...2.82...2.76
Resistance @ $3.20

Volume: 15,906,586
Avg Volume (3m): 11,309,700

Technicals
MACD is Bullish
Stochastic is Bullish
Close Above the 13-day EMA
Most Actives
Percentage Gainer

Last Price Quote is:
6.58%above 13-day EMA
12.72%above 50-day EMA
RS Rating: 96 

Fundamentals
Key Data:
Market Cap (M): $1,787.45 
P/E Ratio: NA 
PEG Ratio: -7 
Next Earnings: 02/15/2006
Last Analyst Rating: Hold

[Stocky2000]

this one is strong buy eom...look at chart = turnaround

[setravis]

Did this one have a reverse split today 

[setravis]

The "CIEN" Threads in Previous 3SOF Picks
Have been merged.
Got the go ahead to do so from Ramsburg.
I will be working here on this board to merge other threads also.

I will leave you Friday's closing chart while I'm in this thread....... 

Good trading to all !   

Regards,
Your fellow trader @3SOF
setravis

[setravis]

Updated View.......
Eastern Time, on September 22, 2006, Ciena Corporation effected a one-for-seven reverse stock split of its common stock.

52wk Range: 22.04 - 48.39
Volume: 2,334,963
Avg Vol (3m): 3,236,540

Technicals
Close Below the 13-day MA

Last Price Quote is:
-1.91%below 13-day MA
7.04%above 50-day MA
RS Rating: 89 

Fundamentals
Key Data:
Market Cap (M): $3,742.88 
P/E Ratio: 62.84 
PEG Ratio: 2.13736 
Next Earnings: 12/06/2007
Last Analyst Rating: Neutral

Friday's closing chart.......