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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: Raj Ramaswamy who wrote (7362)7/25/1997 3:06:00 PM
From: vegetarian   of 61433
 
>>Sold this dog at 49 15/16 today morning and bought COMS. Among the
network stocks today, ASND is the weakest (BAY is a flash in the pan).
And looking at P/E, no. of recommending brokers, COMS has better
chance to hitting 60 than ASND in short term.<<

ASND is indeed weaker among networkers, however your other viewpoints are more interesting.
That is, ASND is a dog at 49 15/16 and COMS is more attractive because
it is closer to 60 (57) than ASND, what is magical about getting to the number 60?, some others may be closer to 60 than COMS :-)
ASND price seems to be making investors nervous, however, this is a momentum+instituional play; the institutions will play it when there is a significant news, the momentum players will play it when they rotate the money into the networking sector.
When none of them play, the price declines on a low volume as it is doing today.
The next opportunity for price appreciation will be if a good news is released and/or money rotates back into networking sector.
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