Michael:
The next downward stop is in the 1120s for the NASDAQ. You are correct,
the NASDAQ will start tomorrow down a couple of points to test today's
low which I think was 1146...If buying support does not come, probably
a 20 point drop over the next 2 days. That would result in more tech
slaughter regardless of future earnings potential for ASND, CSCC, USRX,
PAIR, CSCO, COMS, etc.
I still think that ASND is still coupled with the Cabot overhyped stocks
such as IOMG and PRST, and that is hurting. In the short term ASND will
go with the market, because of recent weakness. The technical damage to
ASND is now enormous, which will take time to repair. ASND held the
47.75 level well today, by not reaching it. If that is breached, even
god will not be able to help us.
Deepak |
