Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 209.43

-0.2%

Dec 23 3:59 PM EST

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To: Sector Investor who wrote (33849)	2/7/1998 3:42:00 PM
From: sepku	of 61433

>>>I agree with you on ML, but the following day is too soon, don't you think?<<< That's true, and I was contemplating just that. I figured that most of the positive results from a ML upgrade would occur within two trading days of it hitting the wires, and I wouldn't want to be left holding the bag when the smart money runs for the exits. Perhaps selling in stages would be more prudent... >>>Didn't ML upgrade CSCO pre-split when CSCO was in upper $70s with target of $100? Post-split that would be $66. Didn't they just raise that now to $75? ($115 pre-split).<<< That's exactly the case I was thinking about. I don't recall ML issuing a target with that CSCO upgrade...they seldom do (I still believe that the presence or absence of a target price lends an important clue as to whether the up/downgrade is sincere or a ploy. When a target is stated, they require reasons for such specifics). CSCO was in the upper 80s when ML upgraded it to strong buy (?). Cramer had been consistent in his opinion that CSCO was a stock you buy/hold for 3 to 5 years. Then as soon as the ML upgrade hit the wires and CSCO pushed 90, he announced a couple days later he had sold (or greatly reduced) his position. That can't be a coincidence considering ML's reputation...being a fund manager himself, Cramer likely knew exactly what to make of that move by ML. The day Cramer was on CNBC announcing his sale, CSCO began to retrace sharply to 72 within a week or so. So if Cramer and ML were dumping CSCO shares, it must have began immediately following the upgrade. So perhaps selling into the initial buying spree immediately following an upgrade is wise? Style Pts.

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