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

To: Greg h2o who wrote (36233)	2/24/1998 1:07:00 PM
From: Sowbug	Read Replies (1) \| Respond to of 61433

*****OT***** No, I haven't read Livingston's book. Again, I strongly recommend it. It's written by Lefevre, not Livingston, and it's a beige softcover. Before I had read it, I probably would have thought Tim was a knucklehead, and I would have agreed with you that momentum trading appears to be no more reliable than playing craps. No momentum trader owning ASND today would still own it if it dropped to $32, so your scenario about it dropping to $15 is irrelevant for them. I agree that same scenario would present a great opportunity for longer-term investors who have investigated the company and believe it's undervalued. That's exactly my point -- in that situation the two investment styles would lead to different but *EQUALLY VALID* conclusions. How on God's green earth can anyone buy a stock they know nothing about??? Easy. If a stock is at $50, you see huge volume driving it to $52, you buy at $52 1/8 and then sell half an hour later at $54, then who cares what the company does? The only thing that matters is that $52 1/8 is about to turn into $54.