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Metastock list

  • To: Jim Greening <JimGinVA@xxxxxxxxxxxxx>
  • Subject: Re: Weekly Picks
  • From: Harley Meyer <meyer@xxxxxxxxxxx>
  • Date: Sat, 6 Dec 1997 21:59:16 -0800 (PST)
  • In-reply-to: <001701bd027b$72a9b740$25392299@xxxx>

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The ascend leap .gif came through, but the second .gif I assumed you
forgot to attach. Anyway. Question:  Is Ascend speculation on your part?
Nothing wrong with it. But am just curious. You said it was based upon
the rumors of the take over. But would be nice to hear it from you.

Also Ascend is also in a class action suite. Did you consider that? Also
I heard on RealTraders email that Ascend has had problems with their
relationship with analysts. For the same reason that they are being sued
by share holders. They didn't paint a truthfull picture of earnings
growth. They joked about the company shaould of been descend instead of.

The general comment i hear is that the industry that Ascend is in has a
great long term growth potential. But does Ascend? Is Ascend another
Centenial Technology?

Anyway enough said. Personally If something jumps that fast on rumors I
might do a bit of hedging. The short term momentum up will slow very
fast if there isn't an anouncement soon of a take over. You are looking
at Jan99 40 calls. A long way out for 4+ bucks. I would turn around and
buy some slightly out of the money puts (something cheap), but only a
few months out. The point here is if the lawsuit uncovers something that
drives ascend to zero or discourages a take over then you have some
protection. If there is a take over nothing lost but the premium of the
puts against the profits. Won't explain option since you know more than
I. Also if it drifts back down you can capture some gaines in the short
run. Just an idea.