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Technology Stocks : Ascend Communications (ASND)
ASND 217.17+0.3%Nov 18 3:59 PM EST
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To: Finder who wrote (45858)5/1/1998 6:37:00 PM
From: Sowbug  Read Replies (1) of 61433
 
I am still puzzled by the huge increase in short interest in the last reporting perid. I wonder what is causing the shorts to like this sotck so much, also performanace on days like today is trobuling.

In Reminiscences of a Stock Operator, the author notes that manipulators cannot keep a fundamentally strong company down in the long-term. Yes, they can shave 10%-20% off a stock price, but at that point, company insiders, who know the true value of the company, will step in and buy.

If you believe ASND is fundamentally strong, and assuming the worst (that a skilled and tenacious group of manipulators is trying to depress the price), then the 5 percent drop off recent highs is simply a buying opportunity. Shorts can't depress a stock price over the long term.
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