Monday, October 1, 2007

Continuing to Add to Ciena (CIEN) as it Strengthens

Posted by TraderMark at 1:20 PM TweetThis
I mentioned Friday, the analyst day tomorrow for Ciena (CIEN), and its non performance the past month post earnings. The stock continues to behave well and is now at the place where its topped out the past 2 months, lower $39s. So this is the place where the stock puts up or shuts up.

I've added more today and taken Ciena up to 5.3% of the fund from 3.9% Friday, re-establishing it once again as the fund's #1 long holding. If the stock can finally break $40 I will add even more as this stock never partook in the general market rally post Fed. A move to mid $40s in the near term would not be surprising from this laggard. The downside is some nugget of disappointment or bad news at tomorrow's analyst meeting but the stock seems to be behaving in a positive manner.

Long Ciena in fund; no personal position


Posted by TraderMark at 1:20 PM

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