>>Joe, one thing I want to add on is if COMS gives positive outlook on the meeting and analysts buy it. With the ending of window dressing, we should see a HUGE volume at the first half an hour of trading tomorrow. Your thoughts ?<<
SHORT ANSWER: I agree
LONG ANSWER:
I have a multitude of thoughts, whether they're worth while,
who knows:
1) First, I'm a little puzzled by the sharp dip at the end
today. Somebody had to sell merchandise quick at last
minute, or just followng the Naz momentum?
2) For the last three trading days, we've had very
high volume at the beginning and usually a high price
in the 31 range, and then it tapers off during the day
about a point, but not enough
to go below 30. I was hoping for more buying, but
maybe lots of buyers have to wait for new quarter.
3) The last 3 days have had over 10 million volume, with
today, being the highest...12.5 million.
4) After cc last week, I didn't think it would go up
so fast with that much volume. I thought it would have trouble
at 30. That day had 30million shares and was trading at
31 3/4 for a while. Lots more than I thought...could
be an omen of tomorrow.
5) I think that Eric B. had something special up his
sleeve to reveal today. He must have known about the
window dressing phenomenon. It will definitely build
company moral to get the price up. So, today he gave the
audience a little something extra to surprise them.
At least he gave them the 'Gingrich' appearance if that's
worth anything.
6) Rockwell's been having trouble with their modem
chip sales. This was in WSJ today. I wonder if ANALysts
will correlate Rockwell's problems with 3Coms' benefit?
Or the other way around...Rockwell's having problems
selling modem chips, therefore 3Coms must be having
problems. If Eric could let them in on some
inside secret about future modem domination, then there
will be nothing to worry about. Buy, kick back and
enjoy the ride.
7) I think if we break 32 -32.5 (strong resistance) then
going up to 35 or 36+ will be no problem. Breaking
33 may start somekind of snowball effect.
8) A lot of tomorrow just depends on how today's
analyst conference went. If it went badly, we'd already
know about it (imo).
9) There will be some diehard shorts, if they'll be
waiting sooner or later. 3Com still has to prove itself
for another quarter in the eyes of many people.
Summary, tomorrow's a hard day to predict how good it'll
be (imo). Since earnings came out, there have been
30+10+10+12.5 = 67.5 million shares traded. I'm not
sure yet how to interpret this.
If people feel that the "corner has been turned" then it'll
be another HUGH day. Therefore 35-36 is a sure thing,
how quick we get there, who knows.
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