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

To: Jan Crawley who wrote (42450)	4/7/1998 1:00:00 AM
From: Jeffery E. Forrest	Read Replies (2) \| Respond to of 61433

Jan, ORCL is a "core holding" stock. If you are in it for the long haul I don't think you have to worry. Just sit on it. For fun sometime take a looks at a 5 year chart of ORCL. Sweet. That said however, I would have a couple of concerns short-term. I have already discussed the Two Black Gapping Candles. This is a definite sign that a stock has turned from an uptrend to a downtrend. The Japanese call it "a rout of the bulls". Yesterdays Black Candle broke some important support and todays continued the damage. More ominous yet is the fact that these two candles have filled in the gap of 3/12-3/13 (price closed below the bottom part of the window). Windows/Gaps are support and resistance levels and whenever a gap is FILLED on a CLOSING basis it signals a reversal and voids whatever trend it had originally signalled. (a closure of a gap on an INTRADAY basis is different and should not be looked at in the same way. If the SHADOW of a candle simply probes a gap on an intraday basis it can actually be considered bullish.) I probably will not short ORCL because it has already taken quite a beating and also because there are so many more much juicier candidates out there. It might be a very good place to write calls though for those that are already holding the stock. Ok support at 25 and EXCELLENT support at 24. Should be a rough row to hoe to get back to 30.