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

To: Wayners who wrote (22600)	10/8/1998 2:38:00 PM
From: joe	Read Replies (1) \| Respond to of 45548

thanks Wayne, I hope you don't get the impression that I was giving you heat over your last prediction of down to 24...I was just surprised, but I discounted it because I thought only the market would take us down, and I didn't think the market would be that week after G-span's 1/4 pt ease. Obviously, the market has had a tremendous backlash against this. Also, the last several times we went down to 24 (I've lost count:-)), we went down on weak fundamentals. But now, it certainly appears that COMS is in a turnaround phase...of course that never guarantees that exogenous elements may not still come into play and still cause us pain. >>I'm looking to reshort tomorrow on a rally to $27 or something.<< I'm thinking the same thing. I'm wondering what the chances are of poping to $27 after a day like today. Possibly no buyers left after being shell-shocked today. >>You'll see a consolidation zone when it gets down to $24. You'll see a few false rallies before it actually rallies. I'm not going to predict that COMS will break through support--that goes against the odds.<< The last few times, it's been hard for me to predict whether we would hold or not at 24. But this time, since we're down due to market conditions, I'm wondering if the probability is higher of breaking through. (btw...what's the next resistance?) Look how we've gone from 30 to where we are today. Support, resistance lines haven't meant much from what I can see. thanks, joe