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

To: Tim Luke who wrote (46357)	5/8/1998 5:03:00 PM
From: Darren	Read Replies (2) \| Respond to of 61433

Early warning for you,,, ASND will be trading at 50 next week. All I can say is I'm glad I'm not shorting asnd, but then again I have never shorted a stock. Aren't you the one who told me it would hit 45 1/2 today? What I love about the stock market is that it constantly keeps me jumping. Just when I think I've figured out exactly what is going to happen, something changes. You should be careful to rate the value of a stock based on what a MM says. Stock Market 101 will tell you that a stock with a PE of -65.57 could be, might be, need I say, overvalued? I wish I could tell you I was watching with my wallet, but I like you, am just an active observer...assuming ASND had CSCO's earnings, and was trading at a PE of 60x earnings, it would still be overvalued. IMO, your only hope for 50 is a takeover/merger... Also, DLJ and COWN together have traded less than 3 million shares this year in ASND. As you know, the average volume is nearly 7 million shares per day. Now if GSCO upgrades, then you have something...but Cramer doesn't have any friends at Goldman. <grin>