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Technology Stocks : Ascend Communications (ASND)
ASND 220.42+4.9%Dec 12 9:30 AM EST
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To: Linda Kaplan who wrote (14607)9/26/1997 8:09:00 PM
From: K MAC   of 61433
 
Linda

Months ago I read a big money managers poll in Barrons that listed the networkers as a sector to avoid. The big three (CSCO, ASND, COMS) were all near or at their recent highs back then (CSCO all time high, COMS and ASND highs of the last run-up).Since then all have been in downtrends, and have been unable to break this pattern. Not surprising if the big money was pulling out. I feel that this sector will soon rotate back into favor (now that COMS has reported) and soon ASND will finish their qtr that has already been written off as a miss. Once this news is history, the big picture should again take center stage. It would not surprise me to see these stocks start to reverse sometime next month. ASND was hit too hard, and the recent news should helps to solidfy their prospects for the next few qtr's. This sector has sustainable growth, and now provides us with some decent values (I like COMS below 50 and ASND below 40). I loaded up on the march 40 calls when the stock was at 33 1/2. It would not surprise me to see it in the low 30's again before it starts its climb back up, but I didnt want to miss the opportunity to buy at those levels. There is still a lot of pressure by the mm's in the short term to keep this stock down, to save face on all the downgrades and to be able to cover shorts at the lowest prices. Again, be patient. You bought some time with the march 40's and this stock should be well above 40 by march.

K MAC
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