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

To: Skeeter Bug who wrote (20809)	11/3/1997 6:57:00 PM
From: Jeff Mills	Read Replies (1) \| Respond to of 61433

Skeet-- I think the selling pressure is from small investors slowly but surely bailing out due to substantial loses or margin calls. Anytime a stock gets into a rut like ASND has, it means people just dont believe anymore. Today's volume of under 8 MM shares shows that the big funds were not dumping on todays news. Anytime a stock hits a 52 week low and each and everyday goes lower and lower, people just give up and bail. Its hard to say where ASND is going to bottom out. When ASND announced via their 8K filing their poor Qtr a few months ago, the stock was near $38-$40. At that time I was on record saying ASND was headed to $26 1/2 (or $5 billion market cap level) and that I would be a buyer there. Well, it got there and I bought (I bought at $28 1/2 actually). But I sold today cause I think before the year end tax selling is done with and/or bottom is made, ASND may see the $4 Billion cap level, or $21 1/4. The stock seems to be comfy here in the $20s. To get back above $30, a few things are going to have to happen: 1. Buyout 2. Major Firm upgrades 3. New large contracts Other than that, ASND will trend downward IMO. Especially with mgmt losing credibility with the Street. Their press releases are so gloomy--even the headlines suck! "Ascend sees price cuts, slowing growth"...that was todays headline. I mean that reads poorly if you ask me. No news is good news on Wall Street, and ASNDs news has been nothing but unexciting as of late. We dont hear Cisco or 3Coms talking about their business. ASND is though.