3Com Corporation (COMS) Message Board

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Technology Stocks : 3Com Corporation (COMS)

COMS 0.00160

0.0%

Jan 16 9:30 AM EST

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To: blankmind who wrote (18614)	7/3/1998 9:14:00 AM
From: Wayners	Read Replies (3) of 45548

COMS becomes a major buy at $27 1/2 support level. This is a typical pattern after a stock gets past a resistance level to go back and test it as a support level. For some reason, this is devastating on the human psyche and it shakes out a lot of people on the way down. All COMS has to do is fill the gap created by the news and base out on low volume at $27 1/2. Will be a good time to write the $27 1/2 puts, buy the $25 or $27 1/2 calls and load up on the stock. I think the smart investor didn't buy COMS on the big gap up, but is rather patient in hoping to pick it up at $27 1/2 and get the full ride again. If COMS had not gapped up, it would have been a good buy the first time past $27 1/2. Look at a chart of BAY when it gapped up at the bottom. Came back and tested resistance level. Same pattern.

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