Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 213.42

-3.2%

3:13 PM EST

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To: Gary Korn who wrote (13531)	9/20/1997 12:07:00 AM
From: Harry Ehrlich	of 61433

Gary, I recall you were planning to short ASND a few days ago. I am curious if you followed through with that short. I am also curious as to your reasons for going short. I sold my ASND today (Friday 3:30) and went short. Many on this thread seem to think that ASND has made a reversal. I can see no technical basis for such a reversal. ADX is over 30, using both 9 day and 14 day periods. -DI is high, +DI is low, and the two are quite far apart. This would indicate that the down trend is still quite strong. Stochastics does not show a reversal. No trend lines have been broken in the last three days. It has been noted (Larry Connors) that strongly trending stocks often rest for three days or so, before resuming their move. This looks like the classic breather. Those are my reasons for going short. I believe the selling pressure will continue. What were your reasons? Harry

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