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Technology Stocks : Ascend Communications (ASND)
ASND 220.42+4.9%Dec 12 9:30 AM EST
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To: Billy Dunn who wrote ()7/2/1996 2:21:00 AM
From: Billy Dunn   of 61433
 
Subj: Re:short ASND
Date: 96-06-28 09:48:09 EDT
From: MF Raleigh

Keith,
You are correct--this is a very risky short. However, I believe that it's overvalued, too many fund managers are in (which is a contrarian signal), and that the technical signals still favor a short. I'm barely in the money right now, and what I really should have done is buy some 55 or 60 calls when it touched down in the 40s. I wasn't thinking along those lines, since I don't usually work with hedging derivatives, but that probably would have been a prudent course of action.
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