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

To: Bruce L who wrote (16877)	6/4/1998 4:53:00 PM
From: Wayners	Respond to of 45548

I guess I'm just thinking out loud on this thread. I'm not trying to make specific predictions. 26 1/2 is definitely the resistance level. No question about that. The real question is whether COMS will fail at 26 1/2 or break and close significantly above 26 1/2. The probabilities say to trade with the trend and that resistance will not be broken on a downtrend. But I can see the arguments for a reversal too. When COMS was slipping each day on low volume there wasn't any question. But when volume picked up to 10M twice and then 7M, that tells me that we saw the selling climax and that this is a reversal. So what to do? I know one thing---don't hold overnight. This is the toughest call in the business (picking exact bottoms) next to picking breakout direction from pinched bollinger bands on a flat or neutral trend <g>. Even when you bet with highest probabilities you will still lose. I lost when I held overnight after shorting at $24. Shouldn't have held overnight. But my intraday shorts today made some money.

To: Bruce L who wrote (16877)	6/4/1998 5:08:00 PM
From: 45bday	Respond to of 45548

I think that post was very tactfully stated. I would have questioned his wisdom differently.

To: Bruce L who wrote (16877)	6/4/1998 7:12:00 PM
From: joe	Read Replies (1) \| Respond to of 45548

Bruce L, ... this is actually a question for Wayne of which you reminded me of... Wayne,----- don't want to bust your chops...I'm just trying to clarify your thinking - or maybe mine is off base. >>You're now contradicting yourself (again). You said that 26 1/2 were resistance and that if COMS broke that figure at the close..<< Didn't you also say a day or so ago that resistance was at 26 and then realized it was at 26 1/2? I'm starting to lose my train of thought here... j