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Technology Stocks : Ascend Communications (ASND)

ASND 216.91

+3.0%

12:05 PM EST

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To: margin_man who wrote (23710)	11/16/1997 9:46:00 PM
From: Bharvin K. R. Patel	Read Replies (2) of 61433

THE TECH SELLOFF is over, according to Michael Murphy of the California Technology Stock Letter, and it's all thanks to Comdex, theannual technology trade show beginning Sunday evening in Las Vegas. "Over the past 10 years, tech stocks have always done well for the three months following the event," he says. Why? Well, for one thing, says Murphy, the conference allows the tech community to focus on how it's doing. "And when they see that PC sales are going to be up 15% year-over-year in 1997, that there will be no disaster in Asia, it will be enough to propel tech stocks -- especially electronics and communications stocks -- higher." Murphy believes that the only real risk to a tech rally is a broad market decline. "I don't like the broader markets at all," he says. "I'm fully invested in technology." Well, Asia is up BIG time and all we need is some exciting news from the COMDEX to stage a rally in the techs. I have a feeling that CPQ and CSCO is going to lead the next tech run-up

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