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Technology Stocks : Ascend Communications-News Only!!! (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: Sector Investor who wrote (391)	10/25/1997 1:26:00 AM
From: Gary Korn	Read Replies (1) \| Respond to of 1629

According to the N.Y.Times on Saturday, 10/25, the short position on ASND has increased to 22.09 million shares: nytimes.com [In case you can't access the URL, the story is below]: October 25, 1997 Short Positions Not Yet Covered Are Up 7.1 Percent on Nasdaq Market NEW YORK -- In the largest increase since October 1993, the number of open positions on short sales on the Nasdaq stock market rose 7.1 percent in the month ended Oct. 15, the National Association of Securities Dealers reported Friday. The short positions in Nasdaq shares, which represented trading that took place from Sept. 15 through Oct. 10 and was settled as of Oct. 15, totaled 1.691 billion shares. That compared with 1.578 billion in the monthly period ended Sept. 15. The increase between September and October 1993 was 7.4 percent. In a short sale, investors borrow shares from a brokerage firm and sell them, hoping to repurchase them later at a lower price and return them to the firm. If the shares fall in price, an investor makes money by keeping the difference between the price at which the stocks were sold and the lower price at which they were repurchased. Short sales have typically been considered a measure of bearish sentiment. But they are now often employed in complex hedging and trading strategies involving options futures and other derivatives. While the number of open positions -- shares sold but not yet bought back -- on short sales rose in the latest monthly period, the number of days to cover all short positions, based on daily share volume for the month, declined by 7.8 percent. The October short interest represented 2.30 days of daily market share volume, compared with 2.51 for September. The largest increases in short positions were in the shares of Worldcom Inc., with 70.26 million, up from 44.49 million; Intel Inc., with 32.44 million, up from 24.74 million; Tele-Communications Inc., with 32.44 million, up from 24.74 million, and Ascend Communications Inc., with 22.09 million, up from 19.7 million. Short interest in the 1,477 stocks traded on the small-capitalization market of Nasdaq declined 2.2 percent, to 52.07 million shares from 53.29 million.