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Technology Stocks : Ascend Communications (ASND)
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To: Andy Riedel who wrote (12613)9/15/1997 12:26:00 PM
From: marie fouchia   of 61433
 
Andy, what difference does it make about the company's products? They stillhave to SELL them--and this was a MOMENTUM stock which means even the slightest pullback in growth means major doom at least short term. All that matters now is that wall street is dumping this sucker like it has the plague, and severe technical damage is being sustained. The "market" rules--not necessarily the "fundamentals" which can't be that great right now, or this wouldn't be happening. Also NEVER never ever average down on a stock. It will become fairly apparent when a reversal occurs, then begin to average up. You don't need to guess the bottom, you just need to see the volume has dried up, (no more sellers) the a sudden spike intraday off of a ridiculous low and increase again in volume. I've seen it happen many times. Good luck, marie.
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