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Technology Stocks : 3Com Corporation (COMS) -- Ignore unavailable to you. Want to Upgrade?

To: Bill Coenen who wrote (43866)	7/14/2000 12:48:02 PM
From: David E. Taylor	Read Replies (1) \| Respond to of 45548

Bill: Wednesday's run up probably flushed out the weaker short hands, although the high end of day volume suggested there were more scrambling to cover. Anyone with a short position entered since early April is now under water if they haven't covered. But there was already a 12.5 million short position by mid-April, a lot of it at prices higher than 40, so there will probably be more short covering, But then there are those determined souls whose PALM short positions are part of an arbitrage with a long COMS position who may just stay disciplined and wait for 7/27 to cover from the distribution. How many we don't know, but we may be about to find out. And yes, IMO things could get out of hand again. It's a rare opportunity to be able to do the same thing twice - once for the IPO runup, and again for the distribution. Are we permitted a small "heh heh heh"? David T.