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

To: Wayners who wrote (20036)	7/31/1998 8:39:00 PM
From: victor pan	Read Replies (1) \| Respond to of 45548

i saw the dumping at 24 1/2 too. i had the same question. i couldn't believe that 24 1/2 held. was that some kind of manipulation? how do the market makers set the prices? was it because the market maker saw a lot of buy orders coming in, which balanced the sell orders? was the late run-up supported by good volume buys?

To: Wayners who wrote (20036)	8/1/1998 2:19:00 PM
From: J. Stone	Read Replies (1) \| Respond to of 45548

Wayne: In response to your questions: While I follow COMS on a Level II at work, I don't keep track of who's doing what when. In otherwords, I don't keep track of what firm sold 50k share blocks, or what firms were on the ask at a given point (totalling, for example, 40k shares). I only watch COMS to either go long or short; it's not an obsession! :-) Sorry I can't be of more help. The reason the price stayed above 24.5, however, is because there was a market maker willing to buy a ton of shares at this price. (If I recall correctly, I believe it was WARR.) >>I also have to mention that while COMS held up today, it failed to hold up yesterday in an up market. Like I said in another post, COMS making a run to $27 1/2 would not surprise me. In addition a drop to $23 would not surprise me either.<< I agree, but I feel an upside push (at this point) is more likely than a downside drop. Provided the market holds up. We will see... regards, JS