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

To: Jeff Mills who wrote (22415)	11/10/1997 6:15:00 PM
From: jeff wheatley	Respond to of 61433

I'd like to hear your rationale for those targets. The multiples appear to be shifting away from levels associated with growth companies to some level dictated by " reasonable valuation ", whatever that is: P/S equal 2-3 maybe. The final joke could be that ASND really is a growth company in consolidation. If this is the case, multiples will head up when estimates go up again and these prices could look very low in future. I think that basing should begin in the near future as everyone waits for the Q4 report. I'm beginning to look for an entry point. Went in today but sold at a small loss when it looked like 23. would go near the end of the day. I'll try it again tomorrow given another drop > 5%, all things equal. This one looks way oversold shortterm. The one bright spot is low V. OBV looks like it could be setting up for a positive divergence when the next bottom is found. Pretty clear now that the teens are not out of the question, but I don't see it there long unless Q4 turns out badly. edit: Of course some say that the maket was 40% overvalued from the highs. If it returns to historical norms, everybody's going to see some REALLY cheap stocks.