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Technology Stocks : Ascend (ASND) descending?
ASND 213.41+1.9%Dec 31 3:59 PM EST
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To: Dee Jay who wrote (185)6/23/1996 2:31:00 PM
From: Deepak R. Ghosh   of 313
 
Dee Jay:

I think Morry is probably right. From the very begining, this ASND
correction smelled. It smelled because of 2 things.

1. Significant correction happen to small stocks with low float and
less coverage all the time regardless of fundamentals. That is not the
case for ASND.

2. With increased coverage starting this year, ASND was not very
volatile. Yet the volatility in the past five days has been
significant. There were a significant number of >10,000 share and
>50,000 share trades including some 200,000 share trades. Somebody
was taking advantage of the NASDAQ correction and moving in and out
large sums of money quickly because they knew that such a strategy will
not work for long.

You see, most of the larger investors and brokers typically have access
to more info. on companies than we individuals do. They knew that ASND
was doing fine and the CFO coming on and saying that they are doing
well is simply to assuage all investors. So whoever was selling one
of the most successful companies on the NASDAQ definitely also knew
that. Why then would the stock correct 30% in 1 week? The only answer
is somebody stood to gain?. Also remember ASND had tremendous volatility
and this has not been the trend for the last 3 months, why then the
break in this trend if no fundamental news was out there? Many questions
and no convincing answers.

Deepak
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