August 25, 2010 - Sell Short CIEN
The market is trying to bounce from Dow 10K support. Let's take advantage of the bounce to put on another short position.
Ciena (NASDAQ:CIEN) is a provider of communications networking equipment, software, and services. It carries a STRONG SELL rating in the Sabrient Ratings Algorithm, a dismal Company Outlook Score of 3, a Value Score of 4. I am adding it as a Short position to the Select Opportunity Portfolio at a price of $12.52 that I see right now.
I'll place a tight stop at a closing price above its August 11 close of $12.96, just before it gapped down on the August 12.