Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 196.81

-4.9%

3:59 PM EST

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To: muleskinner who wrote (24308)	11/21/1997 8:02:00 PM
From: Chi-X	Read Replies (1) of 61433

"I just spoke with ML and it apppears that they are doubling up. Form what I get out of that, they are not buying anymore of asnd, but just reducing their cost basis." I don't think that's possible: (1) reduce cost basis (2) not buy anymore ASND (3) double up. Now you're saying they're selling the shares bought at $50 in order to reduce cost basis? Sorry, but that's not how it works. You can't reduce cost basis by selling the shares without buying more afterward. For example, if you bought 100 shares each at $50, $40, $30, $24 then you're average would be 400 shares valued at $14,400 with an average price of $36. No matter how many shares you sell at whatever price whether it be $25 or $60 (yea rite), your cost average will locked at $36 unless you buy more share. Chow, Chi-X hath Spoken! "There shall be no wine, before it's time."

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