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

To: Peter Yang who wrote (40408)3/20/1998 6:00:00 PM
From: Williams  Read Replies (1) | Respond to of 61433
 
Hi All,

I watched this sucker from the sidelines for most of the day, but around 3:45, I went short and covered at the close for a few dollars.

This market has me very nervous. The DOW keeps shooting up and the NASDAQ is flat, to down. Companies are preannouncing and analysts are lowering their estimates. Valuations are out of whack, etc.

I'm looking for a down market next week to let off some steam. ASND has been great for day trading and most of my trades will be on the short side. I'm long for the long term, but short next week. I think we will flirt with the upper 20's.



To: Peter Yang who wrote (40408)3/20/1998 6:46:00 PM
From: Joseph Colombo  Respond to of 61433
 
<<That's just a wishful thinking, imo. If Dow goes down 500 points, we'll see ASND around 28 easily.>>

Peter,

If the market goes down 500 points, I think ASND would be hard pressed to be in the 20's.

Who knows.

Joe


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