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

To: George T. Santamaria who wrote (23396)	11/14/1997 1:19:00 AM
From: Gary Korn	Respond to of 61433

What does the pattern show? George, The pattern shows increasing activity by institutional investors. Individuals generally don't buy/sell 50,000 share blocks. The same pattern prevails for 20,000 share blocks. They have been increasing in number for the past week. Is this accumulation? I think so. Through November 7ish, institutional investors had pretty much cut back their holdings to near 52% of outstanding shares of ASND. Over the past 3 months ending November 7 (I think), institutions had been net sellers of ASND by about 12MM shares. The share price went down accordingly. (Check my Market Guide post on this.) For less than 1 week, ending this Monday, November 10, there appeared to be almost no institutional trading in ASND. Few block trades, and extremely few pre- or post-market instinet trades. Rather, very small retail trading seemed to be pulling the stock down. (Probably people meeting margin calls.) Suddenly on Tuesday, block trading picked up dramatically, as has instinet trading. ASND has been strong. This really can't be anything other than accumulation. Whether for an acquisition (19MM shares can be bought by the acquirer) or just institutional buying in general, I don't know. If it keeps up, we will soon see, on Market Guide, that 3-month net institutional selling has declined. Gary Korn