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

To: blankmind who wrote (16211)	5/27/1998 4:21:00 PM
From: joe	Read Replies (2) \| Respond to of 45548

The first thing I gotta say, is one more day without a preannouncement. That key, because it hopefully means that some decent numbers will come out. And we won't have to be sweating it at the bottom once COMS takes off. And that's what the MM's are looking for. >> >>...but there is nothing to keep MM's, shorts or anyone else from pushing COMS down to the 20-22 range or lower if they can find an excuse. << yes there is one thing, low volume, as you notice today coms is back to about normal volume and we finish up 7/16 on 6.6 million shares. funds and institutions who own this stock will push the price up as no warning is expected. they have the cash, and the volume which pushed coms down to 27, was minimal. << I think what you mean, blankmind, is that the shorts are scared of the low volume, and that's what will stop them from driving it down to 20-22 range. Am I correct? My thoughts on today. 1) It seems clear that a lot of the COMS movement is highly correlated with the index now - program trading is probably doing it alot. 2) Yes, we put in the beginning of a bottom, and this should scare some shorts some more, and we ended on a positive note. But maybe shorts are just doing some normal profit taking, just as we might do, if the market starts to climb up real fast. The market can still make up something to scare people, so if the DOW starts off bad tomorrow, COMS will creep back down, but at least we're getting closer to the bottom because shorts were more anxious to cover, and we're getting closer to the end of the month. 3) We may have gotten a little higher volume, because there was more trading going on - the up and down cycle.