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

To: Jan Crawley who wrote (35483)	2/19/1998 8:31:00 PM
From: Glenn D. Rudolph	Read Replies (1) \| Respond to of 61433

<<<Jan and others: I am surprised that ASND didn't close a bit higher. I saw four block trades (>20K) in the last 20 minutes. Each trade was at the "asking price" and 3 of the 4 block trades were above $ 35 (one @ 35). Seemed like the individual investors were selling and the institutions were buying. It looks bullis for next week. Am I reading too much into the numbers ? Comments please.>>> getgo, Jan, My take is that the Market Makers shorted a lot of shares yesterday to bring the price down to move more open interest to the 35 strike from the 30 strike price on the Call side. They succeeded in doing that. The end of today was some of them unwinding their short position since there was not much risk of taking the price much above 35. I expect a trading range between 35-40 between now and earnings.Tomorrow we should see a close within 3/8 point of 35 on either side. Glenn