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

To: Wayners who wrote (22611)	10/8/1998 4:32:00 PM
From: joe	Read Replies (1) \| Respond to of 45548

>>MMs were writing the puts and shorting the stock as they went along--because we all know that after the 87 crash, its a big no-no for MMs to write naked puts.<< Excuse my naiviety(sp), but why do MMs buy so many puts if there aren't regular folk like you and me doing the buying? I guess they're traders like anybody else, and happen to see a bottom forming? Are they themselves trying to profit from the double/triple bottom of the past? >>Yea, I agree that heavy put buying/activity is a good indicator of a short term bottom. I still expect COMS to hit high $23's/low $24s, however I'm looking for a rally to retest resistance at about $27. We'll either get a gap up tomorrow or a rally to $27--then its short time again.<< I agree about retracing to 23-24. The rest of the market still needs further cleaning out, and will temporarily drive COMS down. I'll be looking to short also at $27.