3Com Corporation (COMS) Message Board

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Technology Stocks : 3Com Corporation (COMS)

COMS 0.00130

-18.8%

Nov 7 11:47 AM EST

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To: Analog Kid who wrote (11271)	12/2/1997 11:26:00 PM
From: craig crawford	Read Replies (2) of 45548

<< Looks as though I might not be around too much longer >> I haven't won anything yet. COMS hasn't hit 25 or 45. If it does I won't hold you to it. << How do you see it playing out tomorrow? >> Obviously no one is going to listen to me because it's in my best interest to encourage everyone to sell. Of course we all know that the people on this thread can't move the stock, the big boys do that. Having said that, I believe that 98% of the time it is not a good idea to purchase on the first day UNLESS you have quick trigger finger and are playing it for a bounce. Even that is risky. Look at CS. Closed at the low for the day and had no serious bounces. I think the problem for COMS near-term is not the actual numbers (everybody expected them to be horrible) but a credibility problem. In my mind COMS is losing credibility with the street like ASND. You can't put a price on that. Also, even if COMS is fairly valued at (insert a number) it will not stop there. Stocks with downward momentum NEVER stop at fair value. They always go below it. So even if COMS looks "cheap" at 25 I bet it goes lower. Add to this tax-loss selling, Asian markets looking weak tonight, and a 600-700 point run-up in the Dow recently and it doesn't look good. Also, 4 profit warnings in one day in the tech sector plus Kurlak comments (have to admit he is usually right) could trigger a whole correction in the techs. Of course I have a more bearish view than most right now. I don't think we will break out to new highs anytime in the near future. We might make another marginal new high, but no real follow-through. If all that was too much mumbo jumbo I will summarize by saying I don't think 30 will hold for COMS and I think we will see new 52 week lows. It might not all happen in one shot but we will work our way down. This may present a good buying opportunity for long-term investors but COMS WILL NOT SEE 40 for a long time so what's the hurry? COMS will sit there and do nothing like ASND for weeks/months before it takes off again.

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