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

To: joe who wrote (22834)	10/16/1998 9:21:00 AM
From: Wayners	Read Replies (1) \| Respond to of 45548

<<We're already at $31 so "a gap" would put us very close to $32, o/wise it's not a gap, right? So, by your logic, we should take a profit tomorrow most likely. DO YOU SEE ANOTHER CLOSING OF A GAP?>> The price of COMS is most likely to trade in the range of $30 to $32. Short term traders/daytraders will sell at the upper end of that range and buy back in at the lower end of that range. Looking at the premarket bid/ask--doesn't look like a gap at all. Looks like COMS will open somewhere between $30 3/4 and $31. You can't just assume that a gap is worth $1. A gap is an opening price anywhere above yesterday's close. The talk of $33 today is too greedy a thought and should be purged from your mind--$33 is outside the channel for today. When COMS does get to $33--think about the risks. Most breakouts (probably about 70%) are false. Playing the probabilities means you have to sell at $33--otherwise the odds are for you to quickly be back at $30.