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Technology Stocks : Ascend (ASND) Traders
ASND 197.59-0.8%Nov 7 9:30 AM EST
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To: j g cordes who wrote (137)9/14/1997 5:33:00 PM
From: H James Morris   of 369
 
Subject: Re: ASND .
Date: 14 Sep 1997 15:09:15 EDT
From: TaffyII
Message-id: <19970914190900.PAA18289@ladder02.news.aol.com>

It was interesting to read Miller827 comparison of Asnd and Bay. At the time I had been buying Bay, at, as I thought, was bargin basement prices. I couldn't believe that WS took it all the way down to $16ps. Looking back what do they have in common? (1) Earnings cutbacks. (2) After the mergers, no proven Ceo to take them forward. (3) Cultures that just couldn't blend. (4) Wall street just fled.
As most of you know, Bay has recovered quite well. They finally brought in a new Ceo (one that speaks english), after almost one year of procrastination. The stock has now doubled off its low. Whats the point?
The most often post here is How low can Asnd go???? Well my friends, a lot lower than you can believe. When will it return? Probably not as soon as we'd like.
What to do next? (1) Sit on the sidelines if your trying to catch the low. (2) If you want to stay in the action, I suggest, Short = to your Long's (no puts or calls if your conservative) and don't buy to cover your shorts until your Longs have appreciated at least 12-15%, from your point of entry. At that point your even. (3) Now it becomes a screaming buy, unless the market as a whole is going nowhere.
Good Luck
TaffyII
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