3Com Corporation (COMS) Message Board

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Technology Stocks : 3Com Corporation (COMS)

COMS 0.00150

-28.6%

Dec 11 9:30 AM EST

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To: Steve Porter who wrote (23778)	11/2/1998 12:05:00 PM
From: joe	Read Replies (1) of 45548

Steve, >>Toady's action looks like a base is forming.. your thoughts? (i.e. a lot of volume but no price movements).<< Well, price movement is very steady between 36.5 and 36.75. See: quote.yahoo.com Note how we were going down rapidly to test 36 and somebody came in with a 300K slug. I'm think that institutions consider that a bargain now, and possibly not much down side below 36. Volume is twice as good as an average good day. That tells me more institutionals are buying the story. Base forming....historically, base forming is going lower and oscillating. Maybe we do that later...time will tell. Otoh, institutionals are in Phase II of getting in, so we may be pushing higher or maybe there are enough sellers at the moment to fill the new institutionals needs. The real test will be how we do when testing 37. We need to know how many shorts, traders, mo-mos are in, or get in at that point. Some of these guys are on our side at least. More later, joe

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