Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 220.42

+4.9%

Dec 12 9:30 AM EST

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To: Ashley Campbell who wrote (58046)	12/11/1998 10:40:00 AM
From: JH	of 61433

<It's filling the gap it made late last week> There were no gaps from the previous week - trades were filled in a linear, continuous fashion. If anything, there was a downside gap which formed this morning between the opening at $61 (hi of $61-1/16) and yesterday's closing price of $61-7/16. Eyeballing the 200 day MA, support is around $57-3/8. I sold 100% of my position in ASND at an average price of $59-1/4 on Monday, a couple of hours before the stock moved to as high as $65. I was kicking myself for the past few days thinking that I may had sold a little early, but today's gap demonstrates that the upside momentum is stalling a bit. I'm thinking of re-entering by selling out-of-money puts and buying at-the-money calls on dips approaching the 200 DMA. This would be a realistic target for ASND if it fails to fill this morning's gap during the next few days.

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