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

To: William Wang who wrote (18884)	7/9/1998 1:01:00 AM
From: joe	Read Replies (2) \| Respond to of 45548

>>A follow up by COMS tomorrow is VERY important. We don't need a gap up open here, but a higher high is a MUST.<< exactly! >> <<but something about today didn't seem right... maybe it's just my imagination.>> Any elaboration on your imagination ? << I'll try to see what's bugging me: 1) The first 1 hour seemed like a continuation of yesterday, but with more volume. I didn't like the first hour at all, but it made sense at least with the previous few days. I thought we were definitely going lower. Then we jumped up very fast. This was timed pretty much with the entire Naz getting a sharp boost. You can see it in DELL, MSFT, CSCO, and even INTC. In fact COMS sharp upward movement lags about 15 mins or more compared to the charts of the others. What boosted the other big caps was 2 reits of Motorola. The market at first was timid, not from Motorola's earnings number, but the fact that they said the next two quarters were going to be tough, meaning that the E.Asia problem is still going to be around for a while. 2) COMS does not usually trade with the index, unless it's pretty strong. So, when COMS went up fast, I wasn't too sure what it was. Is this institutional $$ style to get involved? 3) But you might be right about the 50 dma, since the rise coincides with that well and maybe traders tune in on that. 4) When I think of traders being involved, I think of profit taking at the end of day. And that's what we saw...but there was resistance against the profit taking. I hadn't seen that in a long time, but it didn't seem that powerful. If you look at the other big cap charts, there is very strong finishes. COMS did not have a strong finish...but it's better than normal since many times it gives up its profit...many times one can see this immediately around 2-2:30. 5) The bottom line is institutional investor's need to be buying this stock for it to go up consistently...I'm not sure if they're ready yet. 6) Maybe we're having a little bit of all types of buyers. And we just have to wait and see what happens.... 7) It's also possible that yesterday was just 'oversold' and investor's were waiting for a market wide move... any thoughts...if this is confusing, just ignore it<gg> I might be overthinking this thing... joe PS...I think what we need is some reits or upgrades. Some sign might be good....