Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 209.35

-1.4%

3:59 PM EST

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To: djane who wrote (36816)	3/1/1998 1:14:00 AM
From: Gary Korn	Read Replies (5) of 61433

djane, Where have you been hiding? [After writing this post, I went back and saw Style Pts. message with the same comment. It says something about how powerful your post was.] I wish I could do an analysis as thorough, analytical and readable as what you just posted. If you needed any proof, I think you've convinced me to add to a position that I had cut back quite a bit when we reached 35. At March options expiration, I'm inclined (after reading your post) to sell naked puts in April in an amount equal to or greater than I have expiring in March. One of the most interesting points you made was that, after setting aside tax selling and margin calls, ASND's true fair value at YE97 may have been closer to $35 than to $25, somewhat reducing the magnitude of the current run to $38 (and suggesting that it continues to have more to run). I do have a concern insofar as the RBOCs and CLECs will not constantly have billions and billions of dollars to spend on network infrastructure. I've got to find the article, but I do recall a recent news item to the effect that margins are getting slimmer at the RBOCs in part due to all of this spending. When the budget axe falls, the RBOC/CLEC vendors will feel it. (When the ISPs ran out of money, ASND and the other RAS vendors felt it.) Still, I don't want to detract from your points. Great job! Gary Korn

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