Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 213.30

-0.1%

3:59 PM EST

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To: Tim Luke who wrote (9622)	8/23/1997 5:13:00 PM
From: Jeffery E. Forrest	of 61433

Your targets look good to me. I'm thinking ASND will test those old ST highs we had a few weeks ago and then settle in just under 55. COMS is just waiting to take off. I've been adding to my position anywhere under 52. I don't think it'll get any cheaper than that. I'm showing good accumulation, Oversold readings (B-bands/RSI) and a stoch crossover. I don't know if we'll get a jump out of it this week (I'm hopeful), but it's poised for another leg up. It's been "stairstepping" it's way up. Take a peek at a chart. This last base looks just like the one we had when we were trying to break through 50. If it works EXACTLY like last time, it should break through 60 this week<G> (I'll take the 56-57 that you're calling for though) I'm going to post a full TA on the COMS thread. I'll try to do the same for ASND. I haven't posted a full reading to either thread for awhile and I'm starting to get requests<G> I'm not sure if this correction is over yet or not. The blue-chips STILL look BAAADDD from a TA POV. We DID come REAL close to the targets I was calling for awhile back. I thought we'd get 10% (7550DOW) We came close enough so I can say I was right (although I was a couple weeks early with my prediction), but I think it's gonna remain a "twitchy" market for a while. I've been playing it with a strangle/straddle strategy using OEX's. On Fridays and expiry days especially, it worked GREAT. I was able to buy 10 puts for around a buck and 10 calls for about 75›. Bot each at 10pts out of the money. Calls obviously expired worthless, but those dang puts got DEEP in the money. Yaahoooo. I didn't do it this last FRI though :-( I was amazed at the end of the day rally. And I'm getting so nothing amazes me about this market. I was getting ready to buy OEX calls when we were 150 or so down and by the time I found the symbol, price, and typed in the order (couple of minutes) we were only down 80. Sat there for all of 3-4 minutes pondering the situation and all of a sudden we were only down 20!!!! Needless to say I didn't pull the trigger to finalize my order. On hindsight I probably should have though. Looks like we will get some follow through on Mon. Oh well. You ever play VST? I've been watching it and it looks tempting. Earnings are the 27th and I think they will come in well. It doesn't seem to be a good trading stock though. I'm looking at it as a spec. hold. FLEXF is a good trader. LOTS of volatilty, good solid stock (they make the Pilot for COMS/USRX) and in a SOLID uptrend. Check it out.

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