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Technology Stocks : Ascend Communications (ASND)
ASND 222.15+2.2%Feb 6 9:30 AM EST
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To: Glenn D. Rudolph who wrote (9002)8/15/1997 8:16:00 PM
From: WBendus   of 61433
 
The DOW and S&P indexes could very easily be off by 10% to 20% another month out, and the NASDAQ may follow suit too. The reasons for todays sell off is very simple, G and KO. What happens to momentum stocks when the fuel of the momentum runs out? They tank. I predict that three months from now we will see KO at $34, down 41% and yielding 1.6%, and G at $55 down 36% yielding 1.6%. That would put each of these stocks at 18 times their earnings. While these stocks may go down, I predict that the money is first going to flow to short term paper and then into NASDAQ by November. ASND should do just fine through then since it has already corrected and remains undervalued at this point.

Wayde.
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