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

To: 45bday who wrote (22876)	10/19/1998 8:43:00 AM
From: Wayners	Respond to of 45548

I'd say a buy stop at or close to $34--like $33 7/8 or $33 15/16. I place sell stops just below the channel, so sell stops at high $29s. Even when I get stopped out, I put in a buy stop above the channel in the event that its a false break to the downside. I always cover my buys with stop loss orders. If the stock isn't channeling, I put sell stops at penetrations of necklines of head and shoulder tops and at breaks of the downside of rectangles, pennants and wedges. If I sold COMS at $33, I always put in a buy stop higher--just in case it does breakout out. It all goes along with breakout theory. You have to watch the volume closely to decide if its a real break or a false break. Most breakouts are false breaks--thats how you get the heads of head and shoulder tops--the head is the false break.