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

To: FUZFO who wrote (44483)	4/15/1998 4:06:00 PM
From: Wayners	Respond to of 61433

It dropped to intraday support level of $40 1/2. I'm not concerned by it. Normal price action. Intraday upward price trend still intact. The $40 1/2 gives people the chance to buy cheaper in advance of tomorrow's break above $42. My exit point on this is going to be somewhere between $41 1/2 and $43 1/2 before Friday's close. I also don't believe in the option specialist or market maker manipulation theory. That manipulation is done outside the specialists and market makers. Its large option traders that cause that plus anybody that holds in the money, puts and calls. To exercise calls at a good price you need to short the stock. To exercise puts at a good price you need to buy the stock. This buying and selling action has the tendency to drive prices towards the near strike price.