Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 201.40

+2.3%

3:59 PM EST

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To: Mr. E2u who wrote (13209)	9/17/1997 12:28:00 PM
From: Jeffery E. Forrest	of 61433

First off, I must admit that I never thought we'd break under 40 on a CLOSE. I figured it would see 35-36 INTRADAY, but I was REAL surprised to see it CLOSE down in the 32-33 range. I stopped averaging down after we CLOSED under 40 and broke that barrier. However, I started adding to my position again on MON. One of the reasons was because we have completely turned over the float since we began tanking at 44 14 trading days ago. Some simple "float analysis" shows that we have had one complete turnover of the float shares since we began the fall from 44 to Mons. low. Theoretically the float has completely changed hands one time and all the "weak hands" should have bailed out by now and we are left with the "diehards" and new buyers. "The floating supply of shares -- or simply, float -- is all of the shares actually available for trading by the public that are not owned by the company's management. This number can be incorporated into an understanding of the direct relationship between the stock price and its volume of shares traded. This is easily seen when a backward cumulative count of the volume is studied in relation to a stock's floating supply of shares. What emerges from this analysis are price-volume patterns that clearly show stocks forming bottoms, bases in a rising trend, and tops, as well as giving buy and sell signals." TURNOVER The turnover of the float is the approximate time it takes for the float to change ownership. For example, if a stock's float has 50 million shares actively trading and the volume for the last four weeks was exactly 50 million shares, then the float's turnover would be a four-week span starting from the current date and going back to the day when a cumulative total of the volume equaled 50 million shares. This pattern of stocks going through one complete turnover right before their prices rise is not uncommon.

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