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

To: blankmind who wrote (16871)	6/4/1998 4:20:00 PM
From: Wayners	Read Replies (2) \| Respond to of 45548

No I didn't hold it overnight. I'm looking for short reentry tomorrow at $26 1/2 or higher when the morning volume and volatility subsides. I also want to make sure I'm not on the wrong side of some major market mover too. I think I saw a lot of distribution at the close. Lots of buys at the ask and the ask wouldn't budge. Big boys did a good job of disguising the distribution because the ask sizes remained small. When I see an ask size of only 500 shares soak up about 50,000 shares in buys and the ask doesn't move, you know they are unloading shares with limit orders at the ask price. Very sneaky. Momentum has definitely slowed on this rally. Look at a 60 min chart with a 10 period moving average on it. $26 1/2 is the resistance on what is still a downtrend. Still a good place to short unless I see news or rumor that drives COMS to break resistance.