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Lee Eugene Munson's  Instablog

Lee Eugene Munson is the founder and chief investment officer of Portfolio, LLC (http://www.portfoliollc.com/). He is a regular commentator on CNBC and writes a daily trading blog on Seeking Alpha. Mr. Munson has a significant and salient background in the financial services industry. Early in... More
My business:
Portfolio Asset Management
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LEEMUNSON.NET
  • CIEN - takeover rumor - but I am out of it 0 comments
    Aug 19, 2009 10:06 AM | about stocks: CIEN
    Yesterday I was trying to get into CIEN - I did, but at the time a terrible price, in my opinion of 12.88.

    So, it was not going up in the aftermarket, and no news on a takeover. This morning I just dumped it and got some small profits. I wish I waited a few more minutes, but here is the lesson:

    1. It is a rumor and you need to buy it fast to get the easy money (I was not fast enough when the rumor hit at around 12.50)
    2. No news or aftermarket news? No institutions think it is happening.
    3. CIEN has been subject of several takeover rumors in the last 12 months, so this is not exactly new, so the risk is high.
    4. Don't feel good about it? sell . . . . and remember that this was a spec trade on a crappy tech stock.

    Stocks: CIEN
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