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

To: joe who wrote (19575)	7/23/1998 6:23:00 PM
From: William Wang	Respond to of 45548

Market View from S&P Paul Cherney, S&P Market Analyst NEW YORK, Jul. 23 (Standard & Poor's) - NYSE new 52-week lows expanded to 227 (based on a preliminary reading) for the day. Not good. Investor's Intelligence sentiment figures for this week show Bulls sentiment way too high at 54.3%. Bears are too hard to find at only 23.3%. Not good. As of 3:30 pm EDT, Total CBOE Put/Call ratio was only .55, not good, not even close to a capitulation level. I would like to see something on the order of .79 or higher. Ideally, a reading of .88 or higher at the end of the day represents a short-term buy signal. Weakness into Thursday's close does not bode well for Friday's open. Without a headline of major bullish import, expect prices to plunge further at Friday's open. Just as markets do not move in a straight line on the way up, markets don't move in straight lines on the way down either, and we are due for some sort of an oversold rally on Friday. I will be watching Put/Call ratios, expecting some sort of a short-term capitulation. The bears have made money in this slide, and some of them are going to want to hear the cash register ring: they are going to be buying to cover open short positions, that could produce a rebound rally after the expected opening shot lower. But I don't expect any rallies from oversold conditions to last more than a day or two because there has been real technical damage done in the past 3 days and any oversold rally is going to be viewed by many as simply an opportunity to exit at prices other than the most recent low.

To: joe who wrote (19575)	7/23/1998 6:43:00 PM
From: Eric L.	Respond to of 45548

Joe, Thank you for that reminder! Sorry it's been a while since I've posted. I belive I last posted just before earnings were released. Other than being a bit disappointed at the pull back, I'm more confident now that we're standing on a stronger foundation than before earnings were announced. MM's are a funny bunch. Nobody wants to be the first to take the plunge. To be honest, 3Com hasn't given any reason to lately. But to say that they are going to be mired at this level for a long time is just as likely as COMS at 300 as my bretheren stated earlier. My guess, and it's only a guess, is that when 3com is ready to report in Sept we'll be sitting in the low to mid 40's do to the following reasons: 1. More Lucent takeover speculation, 2. Bruce C. doing some good PR work with the Street. 3. Palm III (There IS No Substitute). 4. People will realize that the X2 logging speeds at high 40K-Low 50K is better than the K56 at 20-30K. 5. Michael Jordan will be back signifying the continuation of the BULL MARKET (Sorry, couldn't resist!) Again, 3Com is an excellent company with strong fundamentals. Woe to the investor that tries to ride the wave at the expense of the voyage. We will make money. We will make a lot of money. We will make a lot of money soon. Just keep repeating when down! Regards, 3Com Boy!