Ascend (ASND) Traders Message Board

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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: Analog Kid who wrote (202)	9/18/1997 10:59:00 PM
From: vegetarian	of 369

I think 32 seems reasonable, although it could go down. During the last panic sell off we did not have an idea about how low it might go so logically it was wise to postpone buying decision. On this bounce we know that there will be extremely stiff resistance at 40 level so it will, with very high probability go down from there so shorting at that level does not entail as much risk (with a tight stop loss). On the next swing up, we know last time it found a lot of support at 32 so that point is a good heuristic to use for next entry, which is not to say that it may not go lower from there. Your plan looks OK to me so long as you keep track of the price volume action.

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