Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 209.15

-1.5%

Nov 20 3:59 PM EST

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To: N4ZQ who wrote (23731)	11/17/1997 1:09:00 AM
From: Lee Martin	Read Replies (1) of 61433

Hi Angier, Let me know when you decide to buy ASND and that's when I'll sell. When all the news is great and all the momentum players are piling into a stock and it looks like it will continue to go up, that's when you get out. A recent example: Bought 14k WDC at 27.5 back a few months ago when nobody wanted to own it. Bad news turned to good news and it ran to 55 about 11 weeks after I bought it. I remember reading on the WDC thread that it was on some "hot stock list" when it hit 55. It's been down hill ever since. I finally bailed at 39-5/8. This is why the momentum funds like PBHG have gotten killed this year. IMHO WDC, QNTM, EMC are buys again down here. Why did the oil service stocks just sell off? Nobody using oil anymore? No, they sold off because everybody and their brother was bidding them up and the smart $$ that got in on bottom decided to take profits. The smart $$ is accumulating ASND now when nobody else wants it. When it runs up and all the " holds" are upgraded to "buys" and Spanky down at the Jiffy Lube tells me ASND is lookin' good and he bought some shares, that's when I hit the sell button. One last example: The Saudi Prince al-Waleed turned $300k into $11.3B over the last 15 years by being a contrarian. His latest buys: Apple Computer, Donna Karan, Planet Hollywood. His strategy is "Find good co's that are undervalued because of temporary financial or management problems." Wish we could get him into ASND. :o) Regards, Lee

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