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

To: joe who wrote (17312)	6/12/1998 4:51:00 PM
From: Wayners	Read Replies (1) \| Respond to of 45548

Oh I agree and I've seen and lived it before on APM. CEO is Chris Crissman who hates wall street, gives wall street no guidance, has no conference calls, no press releases etc. He answers individual investor questions via telephone and will answer analyst questions in the same mannner. Would never discuss yields or earnings or anthing like that. That worked as long as APM blew away the estimates each quarter and was making ton o'money. But as soon as problems pop up, like them being behind in technology, the stock started tanking and just kept on going. Dropped from $38 to current $4 1/2. I took a good beating but felt fortunate to have ridden it up from under $25 and then riding it back down and selling at $25. My final stop loss would be on a retrace to $24 if for some reason COMS finds a way to break though $24 and go to $20. Even though there's no historical resistance there, I'd expect a bounce at the $5 interval. You then get out at the next peak at $24 where everybody will again be saying that COMS has turned around. Don't believe them. If you have a long term strategy with COMS that you are comfortable with, you should write covered calls on that return peak to $24. Sell the $25 calls and keep selling them on peaks until you See COMS forming a long base on low volume.