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

To: LoLoLoLita who wrote (11551)	12/4/1997 10:47:00 AM
From: craig crawford	Read Replies (2) \| Respond to of 45548

<< Much more likely, to me at least, is that institutions who dumped on the way down (for portfolio sprucing-up and tax purposes) now want to get back on this high-speed (15-bagger in 5 years) train. >> Sorry, but this is simply not the case. Yesterday was simply a dead cat bounce. I will give you a couple of examples to support my argument. Let's look at ASND first. When ASND warned last quarter the stock was at 35 1/4. Strangely enough the stock was down around 4-5 dollars in after hours just like COMS. In pre-market trading the next morning ASND traded in the high 29's just like COMS did. ASND opened above 30 and finished the day at 32 3/8, bouncing just like COMS. The next day ASND closed higher one-more time at 33. The next day it closed unch at 33 again. It subsequently hit a high of 35 11/16 intra-day and a peak closing of 34 15/16. THEN it went straight down to the low 20's. For another example let's look at the last time COMS warned back on Feb 10th. Their stock went from almost 50 to 37. You know what happened the next day? Up to 37 1/2. The next? Up to 40. The next? Do I hear 41 1/4? The following? 41 3/4. Of course COMS went straight down to 24 after the dead cat bounce. It's gonna happen the same way this time folks. (I will admit I was hoping for a CS type of sell-off yesterday which would have been NO BOUNCE)