Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 205.90

-1.3%

3:53 PM EST

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To: Dwight E. Karlsen who wrote (8139)	8/7/1997 9:04:00 AM
From: Jeffery E. Forrest	of 61433

Dwight, sorry I didn't get a chance to see your msg before I took my vacation. The formation you asked about was not a hanging man, BUT it WAS a "shooting star" (6/23 right?) (shooting star looks like an upside down hangingman.) Hanging Man is the exact same as a Hammer, 'cept a Hammer comes after a downtrend and a hanging man comes after an uptrend. As you have probably figured out, a shooting star is bearish.<g> It wasn't REAL bearish in this case because of where it appeared. Hanging men and Shooting Stars HAVE to appear after a definable uptrend. Longer the uptrend-the more important the patterns become. The candle we're talkin' about was a s.star, but a very weak one. I agree about COMS price action. I was really expecting a nice "richochet" between 50 & 60 and to be able to trade it there. . Seems to be stuck between 53-56 instead. :-( I still like the "plateau" it's in though. Since COMS turned around in the Spring we've had two strong upmoves with corresponding plateaus (base after an uptrend) that we eventually broke out of STRONGLY. I expect another good run past 60 SOON. FWIW, I am VERY bullish on ASSend right now. I think it's due for a VERY strong up move. It's being accumulated BIGTIME. I believe it will drift to 50ish first(expiry?), but then take off on a 10-15pt run again. ARX paid off too! Yippee! I will be buying LOTS more ARX on ANY weakness. I expect them to ride LU's coattails all the way to the bank.<g> Good Luck Jeffie

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