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

To: matt fahy who wrote (22845)	10/16/1998 10:42:00 AM
From: joe	Read Replies (1) \| Respond to of 45548

Matt, >>What do you think about the open and what is in store for the rest of the day, gradual upticks?<< I see massive volume right now. It's amazing how the price is staying in one spot. I interpret that as MMs keeping it there. I'm watching the 32.5 call option. If that gets more volume, I would think somebody is planning a big move up. (I think the CBOE chart is 15 minutes delayed :-( ) So far, I'd have to agree with Wayne to be conservative. Take profits at close to 32 and then rebuy lower. Much more than that I can't tell yet. I'm not sure yet if it will go much lower, since investor's are probably waiting for buying lower. There is still a good chance that we can pop through 32, IMO. Maybe 30%? The usual pattern in the past that this reminds me of is the gap up, then we flat line for a while, and then there's a move that usually follows the Naz. I would say the Naz is going up today (that strong second leg up tells me that). It knows there are more rates cuts coming, and the economy is not THAT BAD. Investors almost have to buy in, but they might as well hold their cards as long as you can since the open was not nearly as strong as expected yesterday at 5:00pm.:-) I'm holding...I don't think I'll trade anything until we try to break 33. I'm willing to take more risk...more fun that way:-) joe