I'm uncomfortable having little cash available, so I am going to sell some more of the recent big winner
Ciena (CIEN). The stock is up 26% in a week and a half; you can see from the chart below it's been one heck of a parabolic move. This is not a huge sell but reducing from 5.3% of fund to 4.4%, in part to protect profits and in part to raise some cash. Most of the good news is now "in" as
the analysts upgrades have come fast and furious, and as I mentioned my near term target was $45 which it easily surpassed. There is also now a gap in the chart down at $43, which I would not be surprised to see
Ciena go down and fill.
On a side note, within this networking sectors, it looks like
Riverbed Technology (RVBD) might finally be breaking out of a long base and be readying for a move to $50. This has been one of those stocks that could not decide what it wants to do technically, but today's action looks very constructive.
Blue Coat Systems (BCSI) continues to build a base around its 20 day moving average. I think the earnings report from
Cisco (CSCO) could light another fire into this sector.
Long Ciena, Blue Coat Systems, Riverbed Technology in fund; no personal positions
