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

To: RLM who wrote (9684)	11/6/1997 11:33:00 AM
From: dougjn	Respond to of 45548

Well I didn't short but did get out. Consider the tax loss selling will start happening real soon....

To: RLM who wrote (9684)	11/6/1997 12:25:00 PM
From: Christopher White	Read Replies (1) \| Respond to of 45548

RLM, 3Com's trailing P/E is less than 20 right now since the company earned $2.05 last FY. Value Line estimates COMS will earn $2.40 this year. I agree with your assessment of the the near term fundamentals of the stock - the equivolume chart looks terrible. Near term I am also bearish, however, I am not shorting since the risk/reward is not good enough - in this choppy market I prefer to sell near term in the money covered calls on my long position on advances and buy them back on declines - sold the NOV45c for 1 1/4 on Friday and I may have the opportunity to buy it back today for 5/8 if my AON limit order gets executed. Christopher