Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 224.22

+1.0%

Feb 10 3:59 PM EST

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To: Malsi who wrote (7261)	7/23/1997 4:31:00 PM
From: Power Player	of 61433

Malsi, if you put all your money in this stock you should not look at it again till mid-september(unless your a trader), otherwise you are going to cause yourself some indigestion!! The action today was disappointing, the near-term support is $50. My feeling is ASND will consolidate here for a while (maybe a short while) and then move higher, after all Goldman Sachs just put ASND on their recommended list! Just think about what you said in your posts "Where do you think the support is?" Well there is support all over the place, for you it happens to be around $49, because thats where you bought and start getting quessy if it go's under that. For decent support the $49-$50 looks solid, if it dips below that i would question the overall stability in this latest move. When you take a trade think about the overall psychology of the "other" investors that have a position in the stock, remember we've been in a lonnnnnng downtrend in this stock (alot of losing positions, people thinking if it just gets back to $xx, i'm out of this dog) therefore there is going to be alot of resistence on the way up. On the other hand if you buy a stock that hasn't seen a downtrend for 1 or 2 years there is no resistence other than people wanting to take profits, much different than people wanting to just get even. Get the Book "Trading for a Living" by Dr. Elders it will give you some terrific insight to market psychology. I know amazon.com sells it in paperback. PP

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