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Technology Stocks : Ascend Communications (ASND)
ASND 207.87+1.2%3:07 PM EST
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To: Tony D. who wrote (12188)9/13/1997 11:30:00 AM
From: AlienTech   of 61433
 
>>I used to follow you on the APM thread and respect your opinion. I own ASND @ 39.5 and was hoping that the support at 36.125 would hold. No such luck. I have to admit that I am tempted to bail but given the extreme volatilty maybe the market overshot the line of support. Will wait till Monday and re-evaluate.<<

There is so much talk about manipulation.. But has anyone thought that fridays price moments in so many stocks in the wrong direction is related to the options expiration comming next friday? The smart money fixes their options at least a week before expiration. Also moving the stock price away from what people expect will shake out the weak hands. ASND under 40 is a screamming buy no matter what anyone says. I bought some more JAN 35 options although I paid a tad too much :), I would still expect ASND to be closer to 40 by next friday than closer to 35. Just look at the PUT OI, 13K of OI for SEP 35, 14K OI for SEP 40, 10K at SEP 45 and 5K for SEP 50.. Since the vast majority of people on this thread dont have puts who do you think bought them?
In the CALL OI theres 9K for SEP 40, 20K for SEP 45 and 18K SEP 50 and 17K for SEP 55, I would think they want most of these to expire worthless and the price being between 40-45 would make that happen. Or doesnt anyone know/belive the power of the MM's?
Were you in the PAIR thread when the unbelivers didnt think the price would move UP due to option expiration?
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