joe,
>But as long as the market doesn't fold, I can't see us going anywhere's near 24 again. <
I see downside risk on COMS at $27.5 now max, especially given 3Com repurchase news (avg. price at ~$26.5) in very bad market.
I based my sell order primarily on:
a) market not in great condition, think it will trade in range, but don't know the range, appears to have limited upside, profit takers step in quickly imo;
b) Fore Systems scenario, although I held onto Fore for about the whole time, so I did not miss the FAST run-up, which is why I am watching COMS closely.
c) I can miss a few points, but will jump on when we have confirmed this uptrend a little more, but will be as patient as I can, because if it takes another 3 months til earnings and we see $32-$40 until next earnings there will be plenty of opportunities to pick up COMS at a reasonable price (absent of a large news, which may move it before).
d) Yahoo & Dell offer a little more excitement ST to me. Gotta agree with craig c. on the Dell up 150% COMS up 50%, just exaggerating also.
Matt |
