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

To: Jan Crawley who wrote (59936)	2/12/1999 2:37:00 AM
From: Tomfoolish	Respond to of 61433

Re: Anyone have a speculation as to this lag? I guess we're not in the bull camp just yet. I was disappointed with the asnd/lu lag also. After looking around some more tonight, I think what I might be seeing is an even more concerted effort to narrow the rally into only the largest and heaviest weighted stocks in the indices to further mask the money being pulled out. As I ran through my stuff, I found it funny that IBM, GE, PG etc were the ones that I had to swing my forks on with the only exception to that theory being MSFT, yet it was already fairly highly stretched. Regarding trading volume on smaller issues like asnd, I did find it strange that many high volume moves were minor in price swings. Almost as though they were only slightly less willing to sell than the huge number wanting to buy. I was looking through the tape and noticed a pattern of distribution that I have seen too many times. Large buy followed by several even numbered small block sales that totaled much more than those bought until the price would start to slip, then another large buy and the cycle repeated. This tends to support Jan's #2 notion that institutions may have offloaded/readjusted asnd holdings, creating a sideways drift for several hours this afternoon, possibly to redirect cash into weighted index issues. Anybody else notice this? Here's hoping Friday's better...