Seeking Alpha

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
My blog:
LEEMUNSON.NET
  • CIEN - in and out on a takeover rumor . . . 0 comments
    Aug 19, 2009 10:07 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
Back To Lee Eugene Munson's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Full index of posts »
Latest Followers

StockTalks

  • AMAT - still like the chart and I'm back in on the dip.
    Oct 15, 2009
  • DRYS - down today, scaling back in
    Oct 15, 2009
  • SPY - looking for 1100
    Oct 15, 2009
More »
Posts by Ticker

Latest Comments


Most Commented
  1. BAC - adding to position (3 Comments)
  2. MON - down the tubes (3 Comments)
  3. Return to actual knowledge and skill for managers and analysts (3 Comments)
  4. BAC - I know, I can't be cured (2 Comments)
  5. What I am looking to add this week . . . (2 Comments)
Posts by Themes
Bloomberg, china, cnbc, CNBC, CNBC Reports, commodities, David Reilly, Dennis Kneale, Energy, FDIC, Finance Times, Financial Sector, FT, gold, Having a life, housing market, integrated oil, iron ore, Lee Munson, Mutual Fund Research, oil services, Portfolio Asset Management, REIT's, Retail, steel industry, The Mutual Fund Store . . .
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.