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Technology Stocks : Ascend Communications (ASND)
ASND 205.50-1.5%Dec 5 9:30 AM EST
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To: Tim Luke who wrote (33402)2/5/1998 8:41:00 AM
From: Edward J. Edwards, III   of 61433
 
Tim,

I am not an expert by any means, but I will tell you how I have and am continuing to day-trade asnd. I hold a core position and day-trade 500 - 1000 shares daily. I will buy 500 shares on the open today if asnd dips 3/8 - 1/2, I watch bid to ask volume to decide my first entry position. If it dips another 1/2 I buy another 500. If it opens up then I just watch my core position make me money.

With a stock that is trending up this, like asnd, this works well. Then I sell when each block is up 3/4's to 1 point from where I bought it. I do miss a lot of the big movement many times but I consistently make money with this approach. But the stock has to be rolling up, like asnd is doing now. This approach is highly risky but it has and is working very well at the moment.

Ted

PS. I am not encouraging or suggesting anyone use or take my advice, I do my own hours and hours due diligence. I do appreciate everyone's input on this thread.
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