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Technology Stocks : 3Com Corporation (COMS)
COMS 0.00130+1,200.1%Nov 7 11:47 AM EST
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To: The Phoenix who wrote (44431)8/18/2000 9:01:52 PM
From: David E. Taylor  Read Replies (4) of 45548
 
Gary:

I'm sure there'll be many opportunities to make some more trading profits on COMS over the next year or so, but maybe not with the reward/risk ratio you can get right now.

I sold most of my COMS (and this time all the COMS options I was holding) at around $18 last week before I went to CA to visit my daughter and new grand-daughter. Put a stop loss on the rest of the COMS shares just above $17 before I left, it got taken out on 8/9 while I was in transit. I figured if it broke below $17, it could go back to under $14 before picking up again.

But when I looked at the action on 8/11, it sure looked to me like a short term bottom at $15, and that may be the floor for COMS from here on. So I bought a bunch back at around $16. It may hang in around here for a few days, but could easily run to $20+ before September earnings.

So this would seem to be a good point to enter a COMS trade with little apparent downside. Market looks like it's getting ready for an upswing, Fed meeting Tuesday will probably be no change, and the Nasdaq could easily put on a few hundred points in a hurry.

All JMO as usual.

David T.

P.S. I was actually totally w/o any COMS in any account for 4 entire days - first time since last September - guess I couldn't stand the withdrawal! At least this time I have no options pressure, so I can afford the luxury of not hanging on the COMS intraday chart all day.
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