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

To: Harold S. who wrote (24387)	11/22/1997 9:24:00 AM
From: Gary Korn	Read Replies (1) \| Respond to of 61433

why are NO insiders buying at these levels?? Mr. Spock, Good question. Perhaps the answer is that insiders who own less than 10% of the stock of the company do not have to report purchases of registered stock (stock sold on the exchange). If that is so, insiders may well be stoking up on the stock. In addition, if it is permitted, insiders may be loading up with a lot of call options (or selling puts). But as this is purely a guess, I will place another call to the SEC to see if I can collect some useful information on this issue. That is, to see whether insiders can trade in options and/or can purchase registered securities without reporting same. Gary Korn

To: Harold S. who wrote (24387)	11/22/1997 9:44:00 AM
From: Gary Korn	Read Replies (1) \| Respond to of 61433

Mr. Spock, Further to my last post, and as the SEC is closed today, I'm pasting below the Edgar-Online definition of various insider trading filings. There does seem to be a 10% threshhold above which insider purchases must be reported in a Form 3: Insider Trading: 3: An initial filing of equity securities filed by every director, officer, or owner of more than ten percent of a class of equity securities. Contains information on the reporting person's relationship to the company and on purchases and sales of equity securities. This form type is not required to be filed with the EDGAR system. 3/A: An amendment to a 3 filing. This form is not required to be filed with the EDGAR system. 4: Any changes to a previously filed form 3 are reported in this filing. This form type is not required to be filed with the EDGAR system. 4/A: Amendment to a previously filed 4. 5: An annual statement of ownership of securities filed by every director, officer, or owner of more than ten percent of a class of equity securities. Contains information on the reporting person's relationship to the company and on purchases and sales of equity securities. This form type is not required to be filed with the EDGAR system. 5/A: Amendment to a previously filed 5. 144: This form must be filed by "insiders" prior to their intended sale of restricted stock (issued stock currently unregistered with the SEC). Filing this form results in each seller receiving an automatic exemption from SEC registration requirements for this one transaction. A Form 144 is NOT an EDGAR electronic filing; each 144 is filed by the seller in paper during the day at the SEC. EDGAR Online cumulates and adds all of the current day's 144 paper filings to our electronic database at the END of each business day. The value of the EDGAR Online end-of-day listing of 144's is that the first notification of a 144 filing sometimes is the precursor of other 144 filings. 144 sales frequently come in clusters caused by events such as the end of a "lock-up" period or stock options being exercised and can be used to successfully project the onset of increased "sell side" activity in the stock of the target company. Other uses of 144's include targeting individuals who will be coming into money and may wish to deploy such funds. Thus this timely information is the source of myriad business intelligence uses. 144/A: Amendment to a previously filed 144.

To: Harold S. who wrote (24387)	11/22/1997 9:48:00 AM
From: The BayWatcher	Read Replies (4) \| Respond to of 61433

I am also very skeptical of an ASND buyout. IMHO, we have dismissed the insider sale less than 2 weeks ago of 28,000 shares at 23.75. I know there are many reasons why one might sell, incl. margin calls, home buying, etc., but, for my money, such a huge insider sale at 23.75 is enough for me to sell ASND at a very small gain. I know MU's Simplot sold a ton of shares at the low to cover a margin call but that tends to be the exception rather than the rule. Do you really think the ASND insider had to come up with over $600,000 to cover a margin call? I don't. IMHO, the amount of shares sold at 23.75 seems too high to give credence to the reasons we sometimes conjure up for insider selling in order to ignore the obvious-- the guy knows something negative that we don't. Of course, I understand not wanting to take a huge loss just because 1 insider sold; I probably wouldn't either. Despite the large blocks of buying, ASND seems to be having a lot of resistance breaking 25. Once ASND breaks out to 30 or so with heavy volume, I may lose 5 points but I get more assurance of a confirmed upward move rather than the current possibility of a dead cat bounce. Like Mr. Spock, I would also like to see some insider buying. Gary, I think any insider purchase must be reported to the SEC-- not just insiders who own 10% or more. Until ASND breaks 30 or we see insider buying, the insider sale of 28,000 shares at 23.75 is just too compelling to ignore, especially when you can take a small gain. Has anyone tried to find out more about the insider who sold? Thanks everyone for the good work.