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Hey Jim!
I see that ASND is coming back down, along with the rest of the
networking market. I'm looking for the right price to buy back in.
Did you sell your covered calls? Are you planning to buy them back?
ASND reached the bottom of my short term channel today at 51 1/4.
The stochastics and RSI are still saying sell, but I'm thinking buy.
I think the low might be at the 26-day MA at 49 3/4.
Your thoughts?
On Tue, 27 May 97 14:57:48 UT, you wrote:
>Guy,
> I still have ASCEND in my database, so I do like it for the long term. I
>did get a MetaStock ROC/ADXR buy signal on 5/13/97. However, it's not at a
>good buy point for my trading methodology. It's currently in the middle of a
>short term up trend channel. For a good channel buy, it would have to drop
>back to around the 45 level. For a CANSLIM breakout type buy, it would have
>to close above it's 5/5/97 high of 53.562.
> If you are looking for a long term buy and hold, the above discussion is
>probably just splitting hairs <G>. Just go ahead and buy it.
> I don't sell naked puts because of the margin requirements. If I was
>going to sell puts at the bottom of the channel, I'd do it with a put credit
>spread below the channel. That minimizes risk and reduces margin, and
>doesn't really hurt profit potential if stock volatility is high enough.
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