**** WE'VE MOVED TO A NEW HOME ****

Wednesday, October 3, 2007

Taking Some Profits in Ciena (CIEN)

Posted by Mark at 9:39 AM TweetThis
Well this has been a tremendous run and Ciena is up another 5% this morning after its massive run yesterday, so I am going to take a bit off the table. The stock has run nearly 22% in 4 sessions.

I had 1625 shares in Ciena (CIEN) and with the stock now approaching my target of mid $40s (which I mentioned late last week), I am going to sell 225 shares - that is a 14% reduction in the stake. I still am shooting for $50-$53 by early 2008, and will add back on a rally, but this has been a big run in just a few days, so I am going to lock in a portion of the gain.

Ciena is still the #1 position in the fund and this sell will drop the stake in Ciena from 6.3% to 5.4% of the fund. I will be adding on any general pullback to low $40s area. Otherwise I will let the rest ride to $50.

Long Ciena in fund; no personal position

Posted by Mark at 9:39 AM

| Edit This Post | Create A New Post

Labels:

Subscribe to: Post Comments (Atom)

*

*

Disclaimer: The opinions listed on this blog are for educational purpose only. You should do your own research before making any decisions.
This blog, its affiliates, partners or authors are not responsible or liable for any misstatements and/or losses you might sustain from the content provided.


Site by codeeo
Original WP Premium theme by WP Remix