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

To: Peter Yang who wrote (40460)	3/21/1998 4:34:00 PM
From: Joseph Colombo	Read Replies (1) \| Respond to of 61433

<<I'm on the sideline on ASND, but I want to get back in and make up the losses from last year.>> Peter, I have been riding with this company since last summer. Most of us got burnt with this company. It's been touch. But I knew that the mid twenties where probably the low, so I bought options to leverage the up move. It worked and I made my money back, but I still feel that this company has a great future. I think it's human nature. It's funny how there are some stocks that we all love to hate. It's crazy. On a different note, its raining and sleeting, so I figured I would learn some more about Japanese Candlestick Charting. You could spend a lifetime trying to learn it all. Joe

To: Peter Yang who wrote (40460)	3/21/1998 6:30:00 PM
From: Gary Wisdom	Respond to of 61433

Peter, re: the April 30 puts. You're right that there was big volume there on Friday. However, the OI only increased 1200 contracts. So, there could be a few very benign explanations: 1. People rolling out their March positions to April. Very common. 2. People writing puts (bullish) to protect their shorts. 3. Many people sold their puts, keeping the OI down. (bullish) Again, the OI only increased 1200 when the volume was 3300. Not exactly overwhelming. BTW, 1000 of these traded on Tuesday and 1700 traded on Thursday. OI at the end of Tuesday was 1700, at the end of Thursday was 2400, and the end of Friday was 3600.

To: Peter Yang who wrote (40460)	3/22/1998 8:23:00 PM
From: AlanH	Read Replies (1) \| Respond to of 61433

Did anyone notice the big volume for April 30 puts (QQAPF)on Friday? The volume was 3342 contracts, which was kind of big. I have been reading "McMillan ON OPTIONS"... The event which you are seeking (based on option volume, put/call ratio, underlying movement, etc.) has already occurred. Review activity over a week ago, and I believe you'll observe behavior that suggests "inside knowledge". (In essence, that's what prompted my participation on this thread.) Although the argument has been made that "nervous", misinformed investors are the reason for the recent decline, IMO the opposite is true. Although this is a subject for hot debate, I expect further decline this week -- particularly around 3/25. Good luck to all.