Would someone please put the cork back in the bucket. If any more water pours
out, I'm afraid we may fall into a R-E-C-E-S-S-I-O-N!
This is the last time I am going for a ride. My f-in nerves can't take this sh-. Next
significant bounce up, and I am OUT!
Jim,
Recessions are not caused by a falling stock market. Rather, it's the other way around--stocks fall because of an impending recession. But we are not in a recession--far from it. The US economy is on a pace to grow at 3.5% this year, and is still going very strong in all major sectors.
Futures looking good for the moment, and I'm looking forward to a steady recovering market from here till the end of the year. IMO.
As far as Ascend, okay, who got shaken out today? Anyone here care to admit it? Yea, scary drop, especially for longs who don't know or understand ASND fundamentals. And of course there are others like Jim, not quite shaken out, but shaken enough to bail at the next bounce.
If you understood ASND fundamentals, you would not be concerned. ASND will make a comeback by Oct 19, FOR SURE. Kick-butt earnings are around the corner.
All this because the market tanks for reasons totally unrelated to ASND. And shorts use the opportunity to drive it down further. Now they can unwind their positions. How fortunate for them. I congratulate them.
Remember what Ascend management has been saying all along--this quarter, 3Q98, is THE quarter! In addition to earnings, we have an upcoming takeover by Lucent which I am convinced will happen.
Lucent will cease to be a dominant player unless they acquire Ascend. They will not be so stuipd as to squander their remaining equity on 2nd-rate players like FORE or Newbridge. That would be a mistake of the same order as Livingston. A mistake they've made twice already with Livingston and Yurie, but I don't think they'd be so stupid as to make it a third time. The Livingston acquisition is a year old now, and they have yet to win a major contract for remote access routers. How can they expect to do the same for carrier-class switches??? No, I think Lucent has learned its lesson, and realized they have to buy the player who has the installed base. Buying FORE or Newbridge would buy them into medocrity.
bucky89 |
