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: joe who wrote (24437)	11/12/1998 5:13:00 PM
From: Wayners	Read Replies (3) of 45548

Interesting close on COMS today right at $35. It is slightly above the downtrendline connecting the highs on 2 Nov and 9 Nov. I think when it moved above $34 3/4--it got the shorts attention real quick--starting to scare the pants off of them. We'll know for sure tomorrow when we see how COMS is trading in the premarket. Go to quote.com and look at the premarket #trade/volume leaders. If you see COMS on the list---its a very good bet to make a big move up tomorrow. Also monitor the bid/ask in premarket to gauge any potentil gap ups. You have to be prepared for a further break above that line by placing buy stop or buy to cover stop orders. I wouldn't buy a gap up at the open directly. Assess the size of the gap up. Assess the volume on COMS first--is it way above normal at the open? The volume will need to be high to get it above the descending triangle's downtrendline. See the range it trades in during the first 10 minutes and then place a buy stop just above that range (where a new high for the day would be set) and see what happens. Always place a sell stop after your order is filled--either where you can afford to place it--or preferably below the downtrendline--so just below $34 3/4. You do not want to get faked out on any false breaks here. I'm still thinking a slump to $28 to $30 range unless I see it move above $35 tomorrow.

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