Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 210.91

-0.8%

3:59 PM EST

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To: vegetarian who wrote (1643)	1/17/1997 6:53:00 PM
From: nathan chitty	of 61433

I shorted 500 shares at 74 5/8 around 3:35. I try to short near a possible reversal point with very close stop losses. It seemed very emotional today and over extended. Normally, I would expect follow through on Monday but lately it seems like a lot of stocks with this pattern open lower the following day. 75 1/4 contained the last advance and the prior advance was turned back at 74 7/8. Even is this is an extension of the bull move a 38.2% retracement from the low point of this run to the peak today (if it does turn out to be the peak) is 63 6/7 so to upside (downside) for a short looks promising to me.

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