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

To: Wayners who wrote (16876)	6/4/1998 5:17:00 PM
From: joe	Read Replies (3) \| Respond to of 45548

>> I'm thinking that this could be a reversal, with the high volume (10M shares at the bottom--less than what I was looking for) and today's lower bottom.<< Isn't this what you described as the bottom in a previous post, where the high volume you predicted at 25K and lower volume going up and down either way afterwards, which is what's happened today?? I knew that your 25K figure was just way off - much too large. If this was true, we would have sensed it easier because of the fundamentals and COMS would be a whole lot more predictable. >>However I did see distribution at the close which tells me they are going to give a gap down at tomorrow's open.<< Heck, this could just be institutions unwinding lots of shorting, hedge funds for instance. It's not just the little guys who short, it's mostly the Big Boys. So, it doesn't have to be unsatisfied COMS sellers that didn't get a chance to sell previously. They've had lots of chances over the last few months/weeks. >>I think we'll see $26 even in the first 30 minutes, which will be time to buy for the day.<< Hmn, I thought I just read in your post to me that you were thinking of shorting at the open. I guess this is after the stock opens low, then goes up, which will give you a chance to short at $26 1/2 (your resistance point). Well, I can see how this is possible, because lots of scenarious are possible, but I would wait and see and draw conclusions, which is still very hard to do. Large volume, one way or the other seems to be the only way we know concretely what is happening. And IF we've calculated a bottom, there won't be much larger volume, unless longs or shorts change their minds drastically. Since preannouncement month is over, the ball is in the longs court again, but at a pitiful crppy price. Even if COMS has a sht report, this stocks going up eventually, once people realize that techs are now very nicely CORRECTED. It comes down to, how confident do the shorts and the longs feel? Who's got more fire power? This battle is too close to call, especially since there has been a bottom formed - mostly likely. For tomorrow, it's a crap shoot whatever you try. Doubt will win out as always, and therefore the trend is long, because even the shorts know that this stock is dirt cheap, and can't take a chance of assuming a bad earnings report when there hasn't been any preannouncement. I DOUBT SERIOUSLY THAT SHORT CAN READ ERIC B.'s MIND SO CONFIDENTLY AS TO WAGER $$ ON IT. The jig is up for the shorts. They might as well take their very nice profits as soon as possible before they give it back. (IMO) j