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

To: Bald Eagle who wrote (23630)	11/16/1997 8:24:00 AM
From: Glenn D. Rudolph	Respond to of 61433

Hindsight is always 20/20! I'm still 99% invested and just look at the last couple of months as an expensive lesson. At least, I'm not margined. Wiseowl, I agree about the 20/20 hindsight. I am fully invested and fully margined. That was due to writing naked puts on both ASND and COMS. I feel like I was gang tackled. I was able to handle the ASND drop via taking share, closing puts and rolling out, etc. Once COMS fell 20 points too and my exposure was large to both, I had to do some liquidation. There were assignements made early. Common with deep in the money puts. I was far from margined prior to the fall of ASND. The fall of ASND caused some margin but the crowning blow was COMS. I also wrote naked puts for WDC too. Should I go on? Talk about an expensive lesson. I could have made! Sorry, but I feel a little fatalistic right now. I was going to throw more money at it to keep my positons tomorrow but decided the market is too shakey and I will liquidate some positions. I will get back in when I feel more confident. I have lost self confidence in my ability to see the fall coming. I got that off my chest<G> Glenn

To: Bald Eagle who wrote (23630)	11/16/1997 4:45:00 PM
From: Sector Investor	Read Replies (1) \| Respond to of 61433

<<Hindsight is always 20/20! I'm still 99% invested and just look at the last couple of months as an expensive lesson. At least, I'm not margined. I'm looking into selling covered calls as an income producer in my IRA. As soon as I start selling covered calls, that will be a very bullish sign for the rest of you, because my stock is bound to be called away from me and deprive me of the profit I could have made!>> I was caught by this one too. I took full advantage of the February-April dip, took good profits in the Summer and never chased ASND past $41, so I'm still in good shape. My problem is I thought $30-$32 was the bottom and did a lot of buying there. Then the Asia thing hit like lightening and I was caught without a lot of cash to take full advantage of this latest round of tech stock bargains. Still, I picked up more around $24, so my break-even in now under $30. I'm not worried in the least. We all learn from these events. Some of us will profit as well.