I was hoping for a bigger hit in Ciena t…
I was hoping for a bigger hit in Ciena this morning so I could buy more and lower my cost basis by 7% or more, had the stock been down double digits, as I would have bought twice as much today as I bought yesterday, which would have brought my total position in Ciena up to about 30% of the total position I expect to own. Instead, the stock is down just about 4% right now at the open despite the big miss on the outlook from Ciena supplier, Finisar. And that’s not enough to get me to add to it just yet. On a similar note, I really expected Corning to get hit hard today off the Finisar miss and it’s barely down 2% so far this morning. I am paying nearly 3x more for whatever long-dated calls I end up buying in Corning today than they were at when I first added them to the Revolution Investing model portfolio less than two months ago. I’ll be back with full details on which Corning calls I end up buying this morning, but again, no rush for now.