Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 208.75

+4.2%

3:12 PM EST

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To: tepli who wrote (37268)	3/3/1998 12:42:00 PM
From: Bill Boy	Read Replies (1) of 61433

tepli, I don't look at barely breaking the 200 day m.a. and then immediately breaking back under it the next day as being real constructive for the short term. The weak penetration and follow-thru on Friday made me sell most of my calls near the close, although I still have some stock. Another thing I'm concerned about is the almost 75 million shares of stock bought since the Feb. 12th break above 33 1/2 which now show a loss with this selloff of the last two days on less than 10 million shares. I would think we now have some fairly formidable resistance to overcome before moving higher as some of those latecomers to the Jan.- Feb. rally may want out if/when they get even again. Most longer term things like weekly OBV still look good but general market conditions could affect that. Failing takeover news or the like, I'm rather cautious as we move into the March early warning period. Bill S.

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