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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 (17254)	6/11/1998 3:24:00 PM
From: Wayners	Read Replies (1) of 45548

Remember this schizoid post? This drop should finally put in the double bottom for COMS. Here's how to predict the bottom. Draw a trendline down across the daily peaks on 5/6, 5/21 and 5/29. This line will provide solid support provided there is no COMS earnings warning. If it bottoms tommorow, the low will be around $24 even. If it doesn't hit it tomorrow, look at where that trendline is on monday. Look for high volume as well as technicians and program traders suck up shares. I think this COMS rally has weak legs. People are going to look at the chart and see right off that nobody was interested in buying it (dramatically decreasing volume after only a few days) past $27.50, so they're going to say, why should I buy it? I give COMS a few days to try to go higher and each time it will fail. By Thursday, Friday or Monday at the latest its headed back down. Volatility has been decreasing on it with the line it will be oscillating about at about $26. With this decreasing volatility the next low won't be as low as the last one at $23, but I'd expect high $24s.

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