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

To: Gary Wisdom who wrote (40407)3/20/1998 5:35:00 PM
From: Peter Yang  Read Replies (2) | Respond to of 61433
 
>>If the Dow goes down 500 points next week, we'll be back up to $37 in no time.<<

That's just a wishful thinking, imo. If Dow goes down 500 points, we'll see ASND around 28 easily. That's also the reason I didn't buy back my shares today. One sad thing about ASND is it's not participating in the recent rally. However, if the whole market corrects, I'm sure ASND will join the party.



To: Gary Wisdom who wrote (40407)3/20/1998 7:04:00 PM
From: AlanH  Read Replies (1) | Respond to of 61433
 
If the Dow goes down 500 points next week, we'll be back up to $37 in no time

Gary, can you help me to understand your reasoning?

The reason for my question is that there is a strong probability that the DOW *will* reverse next week. This does not imply that 500 points will be given up, rather that some recent gains will be eroded. So, your thinking is helpful.


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