Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 202.23

-4.2%

Dec 2 3:59 PM EST

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To: Maverick who wrote (15628)	9/30/1997 3:04:00 PM
From: Andie Wei-Ku Lin	of 61433

Things to consider. As for the overall market, a close above 8000 on the Dow would provide strong psychological support to the market. It would look bad if the Dow couldn't break above 8000 and hold, especially given the FOMC decision not to raise interest rates (althought it was already a 90% concensus). The NDX on the other hand is having trouble at 1112 for the day, and has just failed to pass through and hold above this point for the third time today. Regarding Ascend specifically, the day is not yet over. Ascend needs to hold above 32. Since today is the last day for funds to sell Ascend so as not to appear like idiots to their investors in their Q3 report, tomorrow may very well see another upward move in Ascend, or at the very least some further stabilization. Fund which have not yet sold probably won't sell, as they are confident enough to hold it through this quarter into the next. Further, there may be additional buying from funds which are convinced that Q3 was an aberration and that Q4 will be more typical (i.e. better). I am long Ascend, and am looking for 35 by the end of October.

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