Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 206.52

-1.2%

Nov 25 3:59 PM EST

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To: hitesh puri who wrote (39666)	3/17/1998 9:35:00 PM
From: Gary Wisdom	Read Replies (4) of 61433

OT Gary's rule for trading tech stocks 1. Never buy tech stocks on margin. The volatility will kill ya and make your broker mad at you when they have to call you for $$$. 2. Never get emotional about tech stocks. The stock represents ownership in a company. Nothing more, nothing less. Things change and so do companies' fortunes. 3. Never chase a stock down unless there's a very compelling reason to do so. If it's down 10%, generally there's a reason. Either hold it or dump it, but don't catch "the falling knife". 4. Never overinvest in a sector, i.e. networkers. They usually move in concert, in both directions. 5. Try to hold two positions in a tech stock: one core holding and a certain number of trading shares. Identify trading ranges and trade them. Ascend is a perfect example. Over the past few weeks, the only people that made money in this stock have traded it. 6. Never tell your friends about your stock. Kiss of death. Need I say more? 7. Never, never buy a stock the day it gets clobbered due to news unless you're day trading it. Nine out of ten times, it will continue to go down over the next days, weeks, and possibly months. Note Compaq. 8. Never think you're smarter than the market. You're not. Just use the movements of the market to maximize your wealth. 9. Never think you've found either the top or bottom of a market. You haven't. No one knows. Not even Abby. 10. Never buy Ascend over $35 <ggg> Anyway, just a touch of humor and possibly education for any new investors out there. You might ask how I came up with these rules? Cause I've traded against them many times and got burnt every single time!!!! Nothing compares to experience (especially bad ones) for learning. Good luck manana.

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