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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: robbie who wrote (33914)2/9/1998 10:43:00 AM
From: Dennis R. Duke  Read Replies (3) of 61433
 
Just a history lesson. I shorted AOL almost three years ago. Unlimited loss potential in shorting a mover. Even if you believe it is a terrible investment to buy. I lost a lot of money on that AOL short, and still won't short today as a result. I had good information that the systems would not keep up with growth. But they held on long enough for me to go from a short at $45 to covering at $84.

That was a big ouch!!!!! I was on margin, as always, and lost money on being called out of positions. One position swung $50,000 in two days to the good after I was forced out at a loss.

You must never discounting marketing. AOL was, (could be today, but I don't know), pushing its stock to its new subscribers. Thus the buy side demand was very high. This could be why it is still going up today. Frankly, I plan never to use AOL, and am very disappointed that Compuserve got bought by AOL. When their influence is felt I'll get a different E-mail source.

Be careful!!! The risks are real. And they only cost you capital and ego or self esteem. Building my "5.0L Blue Fake Cobra" was my self esteem regenerator after the AOL blow-up. I literally turned off the market for 2 years because the experience was that bad for me.

Dennis
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