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Technology Stocks : Ascend Communications (ASND)
ASND 212.33+1.1%Nov 28 9:30 AM EST
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To: Jeffrey L. Henken who wrote (13443)9/18/1997 4:44:00 PM
From: Christopher White   of 61433
 
Jeffrey,

There isn't any manipulation by the brokerage industry in ASND stock...the only manipulation in the stock is from the management of ASND who talk it up with predictions that they can't meet. It seems to me that that the price and volume action since August 6th simply tells the story of the market finally seeing through management's facade.
Looking at the chart, ASND is moving up, but the small real bodies of the last three trading days are all within the real body of the black candlestick from the 12th...I see a great deal of resistance around the 38-39 range, the window created on the 10th and 11th of September. On the 12th the bulls tried to close that window at the open, but only succeeded in creating a convincing bearish engulfing pattern with a shaven head on the engulfing black candlestick.
I think ASND is an extremely risky stock to open new long positions in at the moment...the downside, should the company miss the quarterly earnings or revenue expectations, is considerable. I have read many folks post on this thread that if earnings were not going to be met, management would have already announced...in the technology arena, just this quarter AMD missed their number by a mile, the street expected a profit and AMD posted a loss...AMD's managemant did not warn its stockholders of the shortfall and look where the stock is trading now. I am not long ASND because there are other stocks out there that in my opinion have a better risk/reward profile than ASND...for a stock in the mid 30s, I think APM has as much upside potential as ASND with considerably less downside risk.

Christopher
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