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

To: Cashin who wrote (20413)	11/1/1997 6:35:00 PM
From: Glenn D. Rudolph	Respond to of 61433

If you calculate the M.cap/Sales ratios on 10/9 instead of 10/31, you will find that the stocks got hit hard during this period are not the ones with the highest M.cap/Sales ratios. If this ratio is the only factor that affects stock price, maybe we will be OK next week. But when you look at the 24 month chart, it really looks chilling. Cashin, I see your point. It appears in time of fear most fled from high PE stocks and also low gross margin companies. The typical head & shoulder formation. I keep on telling myself ASND has fallen from the shoulder to the arm. And now we are on the finger tip. If it doesn't bounce, the next fall will be free to the ground. Oh well, if that happens I have to buy the whole company. I know the analysts will never let that happen. They will at least fake one upgrade next week. I am of the opinion we have hit bottom and will be working our way back up but not extremely fast. Too much fear still. Glenn