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

To: Peter Yang who wrote (41120)	3/26/1998 2:13:00 AM
From: Inga	Read Replies (2) \| Respond to of 61433

If everyone is buying and nobody's selling, where did those buyers get their shares from? Good question, Peter. If you watch NASDAQ Level II screen and do some day trades, it will become obvious to you that 03/25 was a great day to day trade the stock. There is this day trader group from MASH (probably Charles Shawb) constantly buys in small blocks (1000-2000 shares when the price drops during the day (around 36) and sells in large block (20000 shares or more) when the price goes up about 1/2 a point to bring the bid price down. If this group does this 10 times throughout the day, this would account for a volume of 200K shares of profit speculation only (no actual buy and hold). If all their trades were successful (very good possibility), this group effectively made 5-point gain already on 200K shares instead of the 1 5/8 gain for us small investors. I personally think that this MASH group actually buys and sells in small blocks (so that price goes up) and SELLS SHORT in large block to quickly bring the bid price down. If they did that they may even had a 10-point gain effectively. A lot of sales above 36 were SHORT sales (not actual sales) for various purposes (actual shorting, call hedging, etc.). So 16 MM shares were a pretty good indicator size for breakout but I think that the actual shares bought was really 1 MM shares or so. On low volume day, the price normally stays in a very tight trading range (1/16 point) hence less trades. JMHO as usual.

To: Peter Yang who wrote (41120)	3/26/1998 2:57:00 AM
From: Sector Investor	Respond to of 61433

<<If everyone is buying and nobody's selling, where did those buyers get their shares from? For example, the volume today for ASND is huge, the buying interest apparently was huge, but so was the selling interest.>> So, you're saying that twice as many people just suddenly decided to both buy AND sell today? Remember the almost 1 1/2 point rise? It took that much rise to bring out enough sellers to balance the buying demand. Lets hope theres that much volume tomorrow and the next day and the next day and the next day ...