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

To: joe who wrote (16988)	6/5/1998 4:00:00 PM
From: DMaA	Read Replies (2) \| Respond to of 45548

We TA experts call this the "Up the Down Staircase" formation. It means six more weeks of interesting trading.

To: joe who wrote (16988)	6/5/1998 5:08:00 PM
From: Wayners	Respond to of 45548

On the intraday chart I can only go by simple moving averages and support and resistance levels...because that's all quote.com offers. They need to add some indicators to their live charts to improve things. Things look good for monday. Our obstacle now is $27 1/2. I want to sell on Monday before 10:00 on a rally past $27 1/2 and then buy back in later in the day at $27 1/2. Watch there be a different pattern on Monday now that we've got this one down. It looked like a lot of accumulation at the close. I also made sure I had a sell order in for the rest of the day after that pissed short seller capitulated and covered a massive quantity of COMS shorts at the market. If that happened again, I wanted my order ready and waiting. On the daily chart, I use a couple of indicators that I devised myself. The idea is to trade with the trend ( the 12 day moving average) unless the volatility is really high and peaked in which case trading against the trend is allowed. I use an indicator I call "bollinger bands on bollinger band width" to try to identify bottoms or tops as soon as possible after they have already ocurred. The volatility peak showed up over the last 2 days--indicating the bottom. My indicator "bollinger bands on stochastics" gave a buy signal two days ago after the close. Now the problem as I see it is the upper bollinger band line on price. That's going to give resistance. I've got the upper band at $29 1/2 and its declining each day. When price meets it---I'm out because price just about always bounces off it when its on a downslope. I think we've got a few days of high volume ahead of us before price slams into the upper bollinger band. I'm not going to speculate after the upper bollinger band. On the indexes like the NASDAQ price bounced off of the support provided by the past peak at 1750 back in early October. I think this correction is over for now in the broader market. With COMS I'm not so sure yet. I just know COMS looks good for about the next day or two. My bollinger bands on stochastics tells me price has not peaked yet. It looks to me like the closing price on 18 May ($29 1/8) will line up with the upper bollinger band on price and provide the short term top on COMS. If its the low price on 18 May then the resistance target is $28 3/4. We'll know better where the upper bollinger has moved to after Monday's trading.