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

To: joe who wrote (16431)	5/31/1998 12:21:00 PM
From: Wayners	Read Replies (1) \| Respond to of 45548

I don't know where the bottom will be on COMS. The trend is your friend and its down. Can only guess where it will reach support at this point, and we're talking about getting support from price lows that occurred several years ago. Origianally I thought there is no way that $29 would be violated. Risky play on my part to pick a bottom at a support level, but I gave it a shot and it failed. There's only one way to play COMS now short terms and thats on the short side until there is clearly a bottom/bounce. There's two types of bottoms that stocks form. There is the suddent plunge bottom where the price falls out on very high volume and the price bounces right back up and reverses. Its a selling climax. The other type of bottom is the base that occurs on very low volume. I haven't seen COMS do either. If there is a selling climax, that could be very profitable if you are already short COMS. The basing bottom gives the short seller plenty of time to cover. Either way, the short seller wins here unless they get greedy in the selling climax and fail to take profits.