3Com Corporation (COMS) Message Board

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Technology Stocks : 3Com Corporation (COMS)

COMS 0.00130

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Nov 7 11:47 AM EST

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To: joe who wrote (22599)	10/8/1998 2:18:00 PM
From: Wayners	Read Replies (1) of 45548

Hi Joe. I'm more of a daytrader than a position trader, but I do hold stuff overnite a lot--but only in the direction of a steep trend (3 day moving average). Anyways, just looking at a downward channel on COMS, I decided to cover at $25 7/8. I was early, but I made good money. I'm looking to reshort tomorrow on a rally to $27 or something. My downside target is still nominally $24 even. I'm sure you guys have thought I was crazy before trying to call bottoms and tops. I took some heat when I suggested that people sell on the earnings news and then again at $30. I'm certainly not always right--but hopefully I'm playing with the odds squarely in my favor. You'll see a consolidation zone when it gets down to $24. You'll see a few false rallies before it actually rallies. I'm not going to predict that COMS will break through support--that goes against the odds.

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