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: joe who wrote (16860)	6/4/1998 4:11:00 PM
From: Wayners	Read Replies (1) of 45548

I noticed there was a lot of small blocks going through at the ask of $26 1/2 before the close. Saw only one large block of 10K. No matter how many shares were getting thrown at the ask, the ask was not budging except at the close where it went to $26 9/16. This tells me that the big boys were distributing shares. Now I'm not holding any COMS overnight. I covered my two shorts today. I don't think COMS is going to make it through $26 1/2 except maybe at the open. I will look for short reentry tomorrow morning. Momentum has slowed on the latest rally. Look at a 30 min or 60 min chart. Put a 10 period simple moving average on the 60 min chart. As far as when the drop is going to occur, my guess is it will start tomorrow and pick up momentum on Monday. The best time to short will probably be around lunchtime tomorrow because the volume and volatility of the morning will be over and it may be possible to short it at a higher price like over $26 1/2. Just wait for the volume to subside to being very low before attacking it.

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