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Non-Tech : Ashton Technology (ASTN) -- Ignore unavailable to you. Want to Upgrade?

To: Nanchate who wrote (1681)	6/11/1999 3:38:00 PM
From: Zeev Hed	Respond to of 4443

Nachante, I would not want to impute the CFO's words, however, my experience has been that the technical behavior of a stock often foreshadows future fundamental change. I know not what those might be, nor even if there might be any. It is possible that the dash to 18 was overexuberance, and it is possible that the break under $10 was over pessimism. What my experience tell me is that major technical damage has been inflicted by breaking through both $14 and $10 in such a short period. Unfortunately, I am not smart enough to know what are the exact fundamental changes if any, maybe it is just readjustment of expectations that were too optimistic. It is quite possible that ASTN's intrinsic volatility is the sole cause of this behavior, but the behavior to me (until technical damage is repaired) is at least a temporary red flag. The fact that the converts have all been converted and at quite "beneficial" prices is an indication to me that management knows how to manage their financing well. That also remove the potential for catastrophic declines often associated with such instruments. As a matter of fact, I now count ASTN and ANCR (out of more than 30 others) as two case histories when floorless instruments have not resulted in permanent decapitation of stockholders' values. Good luck, and thank you for your kind words. Zeev