Weekly Pick

["Jim Greening" <JimGinVA@xxxxxxx>]

All,
     I got my package from Telescan during the week with all the new search 
capabilities and have been spending time learning about the new goodies.  
Therefore, I haven't spent as much time on portfolio review and new candidates 
as I usually do,  but, I did do a little <G>.
     A very volatile week in which my portfolio lost a little ground.  I 
currently have BELM, COMS, DJT, DTM, IOM, IVX, JAWWX, LTXX, NPD, and SCH stock 
in my portfolio.  I also have LEAP calls on BBY and MU.  I'm currently fully 
invested and don't have room for any new positions.  However, some of my 
stocks are close to their stops and BBY is almost at my target.  So I did want 
at least one stock ready and I have identified Ascend Com (ASND) as that 
stock.
     ASND at 40.062 is close to the bottom of its Long Term Up Trend Channel 
(LTUTC) with the top at 92 1/2 and the bottom at 38 1/8.  It dropped from a 
high of 80 1/4 in late January to a low of 36 1/8 on April 22.  It broke out 
of it's Intermediate Term Down Trend Channel (ITDTC) in late April and rose to 
a high of 60 in late May.  I had a nice profit on that run and hope to repeat 
it <G>.  From late May it dropped back to 38 1/4 on June 11.  It broke out of 
that Short Term Down Trend Channel on June 12 and has been moving mostly 
sideways since then to its current position.  The ROC may have made a negative 
peak Thursday and the S/C looks like it may be approaching a negative peak.  
The ADXR is rising slowly and just crossed 21 a week ago which indicates that 
a new trend may be about ready to start.  We may be just a little early, but 
this looks like a good bottoming formation to me.  The reward/risk ratio is 
certainly great with the target at 92 just under the top of the LTUTC and the 
stop at 37 3/4 just under the bottom of the channel.  If I hit a stop or 
target in something else, this will be my prime replacement candidate.
     I'll send a ASND.GIF MetaStock chart to everyone on the e-mail list.  If 
you're not on it and want on, just yell.  The only obligation is participation 
in this e-mail forum.

Jim