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

To: gbh who wrote (49955)	7/15/1998 12:07:00 AM
From: Darren	Read Replies (2) \| Respond to of 61433

We hit this ever so briefly on 7/1, only to rocket back to 48. With solid earnings and forward guidance, its hard to envision a replay of that event. I agree, except it's Options Expiry. Seems to me, 45 doesn't look so bad in that context. I don't think we'll see 41 1/4, but that represents the next support... The other important point I forgot to mention is the gap. Ideally, it should be at least 1/4 up and ideally it will take out 53 7/16, todays/today's [sic] high. I don't think that will happen. My highest percentage trade for tomorrow on ASND is a short from the daily high to 46 3/16. I get nervous at 47 because of the 50ma. I would be happy with a short off the high to some type of inside day...above today's low of 49. I don't go long unless there is a gap down of at least 1/4 to a daily low and the market is moving up. Sorry, just can't see it. BTW, one pearl of wisdom is definitely in my favor: "Buy the rumor, sell the news."