I hated that 5-6 cent pop that it gets at the close. It screws the move for tomorrow.
I'm surprised that you're still short though... what kind of target are you going for? This is getting a bit risky here. I mean I think the market is over-valued and due for a pullback, but CIEN has come down quite a bit so it might experience a bit of a short-term pop before it's downward trend. Then again, the economy IS improving, so I was happy to cover today @ 7.22 (3000 shares) and again @ 7.08 (2000 shares).
I went long on ATML which had (IMO) great earnings a few days ago and hasn't had a chance to run up due to this sell-off. Also went long on LEXR as I think they'll have a great Q as did SNDK and they won't make the same mistake in being overly-conservative with their outlook fwd.
Good luck with your position, and I wouldn't mind listening to your rationale on your trade(s).
to be honest, i was a bit early on my short, i initially shorted 30,000 at 7.05, and had to feel the short term pain of that move to over 8, i then shorted another 20,000 at 7.99 so my average is about 7.42 i think that the stock will retrace a bit more, at least to test 7.00 and if the market does correct i think the mid six range is possible.