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

To: pass pass who wrote (19457)	10/28/1997 4:20:00 PM
From: Narotham Reddy	Respond to of 61433

Day Traders On-Line still bullish on ASND, CPQ Tuesday October 28 11:12 AM EST Company Press Release Day Traders On-Line Calls the "Fall in the Fall" MONTEREY, Calif.--(BUSINESS WIRE)--Oct. 28, 1997--Subscribers to Day Traders On-line (one of the Internet's most popular day trading sites and on-line financial newsletters) were alerted to a potential market decline and correction as early as Aug. 1 when the Dow topped 8250. Today members and the street saw the ''Fall in the Fall'' take place. Members of Day Traders On-line, who subscribe to their real time Internet trading room called the ''Trading Desk'', have been alerted a number of times since the beginning of August that this market was looking ''very dangerous'' and that they should consider taking a defensive posture -- even consider buying indices puts against the market as a longer term play. Those who followed these recommendations cashed in big today as the Dow sold off over 550 points by the early halt in trading. Even those members who may not have bought index puts still shorted stocks such as Dell Computer (NASDAQ:DELL) -- recently called short at 102 1/2 or Intel (NASDAQ:INTC) recommended short at 97 -- while being consistently directed to use extreme caution while trading this market. In fact, these warnings to members continued right through last week. As recently as 10/24/97 (last Friday) in their morning stock market report, senior market editor Ray Johns recommended that members exit nearly all positions. Johns recounted, ''We urged members to raise their cash levels to nearly 100% just last week after the markets and many stocks started looking like they had broken technical support levels. After taking profits recently on a number of stocks that we trade, such as IBM, Microsoft, Applied Materials, Compaq, Texas Instruments and Bay Networks, we noticed something alarming developing in the markets. Namely, a startling level of what we can only call complacency in the markets in the face of what was looking like a technical break down.'' Johns continued, ''Our trading desk editor has been calling for a correction for the last several months and the rest of our staff has been very selective about which stocks we recommend to members. In fact, it was in our trading desk where the term ''the Fall in the Fall'' and ''Put Party'' was coined because we were so concerned about a market sell off before year end. Many of our members profited on the short side on a number of tech stocks and by shorting the market today.'' When asked about their long term view of the markets, Day Traders On-line still remains fairly bullish, even on a number of tech stocks such as CPQ, ASND and feels that much of this selling is likely to be viewed as a buying opportunity shortly. ''These companies (while they may have some pressures from Hong Kong) still do business largely in the U.S. -- fundamentally things haven't changed enough to warrant this sort of selling. It appears to be the beginning of much needed capitulation in the markets. Ultimately, that will allow us to see higher levels down the road.'' Day Traders On-line is an on-line financial service that concentrates on short term trading and investing in stocks and options. Employing fundamental as well as technical analysis across a proprietary screening system of stocks, mixed with over 30 years of trading and investing experience in the markets, Day Traders On-line and their staff have proven that they can provide their members with a morning stock report and intraday alerts that yield exceptional results while reducing risk to reward ratio when buying and day trading stocks. For further information about Day Traders On-line or to take advantage of their no risk, two week free trial offer of both their short term investment newsletter and real time Internet based trading site, please visit them on the Internet at their web site located at: daytraders.com or send e-mail to: info@daytraders.com