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Technology Stocks : Ascend Communications (ASND)
ASND 222.15+2.2%Feb 6 9:30 AM EST
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To: blankmind who wrote (20265)10/31/1997 2:55:00 PM
From: Maverick  Read Replies (1) of 61433
 
All, MMs sell their winners in the last 2 weeks to lock in capital gain for the year (considering the huge run-up since the beginning of the year) so that their funds' returns look good given that the market is in correction. That said, MMs also have incentives to secure gain for their own big, fat bonuses at yearend. In order to offset capital gain, they have to sell laggards indiscriminantly regardless of fundamentals and prospects. ASND is one in this category. They will be back when the tax write-off selling is done. IMHO, $26 is the bottom because there will be good news next week to fuel a rally. I, therefore, now pound the table on ASND. Watch !
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