3Com Corporation (COMS) Message Board

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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: TechMeister who wrote (23285)	10/27/1998 5:20:00 PM
From: Wayners	Read Replies (1) of 45548

I see the break you are talking about, but you can only see it with a 60 min tick chart. Thing is the normal trading pattern isn't to see an immediate and complete collapse. You typically see the Bull and Bears really going at it for awhile thus creating a topping formation. The Bears have the selloff today at $35 and the trendline break to hang their hats on. The Bulls have a longer term uptrend to hang their hats on. The result will be increased volatility in the near time--a topping formation--I'm expecting to see a pennant, descending triangle or the like--which will be followed by a COMS break---what I think will be a break to the downside to retest the longer term uptrendline (lower channel line) at $27 to $28. Its always good to be safe however with a buy stop set above $35 or the downtrendline of the top of the pennant/other triangle though <g>.

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