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Technology Stocks : Ascend Communications (ASND)
ASND 212.55+1.2%Nov 28 12:59 PM EST
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To: Tim Luke who wrote (26674)12/6/1997 5:25:00 PM
From: jeff wheatley   of 61433
 
Tim - Those are normally my sentiments too, but I find it intriguing that specific prices are being stated, 35. and 40., which adds credibility. Someone could really be spinning a yarn here; if so, CNBC really stepped in it. I went in at about 25, was sitting there ten minutes after the opening ready to push the button on a sell order at 32. and let it pass. Sold later at 30. Back in at 28.75 let the 29.5 spike go by. If it spikes down at the open on Monday I think buyers will push it back up long enough to get out with not too much of a loss.

BTW I read Elder's book after one your posted recommendations to someone else a few months ago. It's very good. According to the triple screen strategy described in the book ASND's MACD turning up this week is a signal to begin looking for an entry to go long on weakness. We'll see.
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