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

To: TechMeister who wrote (23285)	10/27/1998 5:12:00 PM
From: joe	Read Replies (1) \| Respond to of 45548

I'm not sure. I'll try to take a look at it later, but possibly one of the other TA specialists can answer. Seems to me the bottom channel trendline is still holding, but barely.

To: TechMeister who wrote (23285)	10/27/1998 5:20:00 PM
From: Wayners	Read Replies (1) \| Respond to of 45548

I see the break you are talking about, but you can only see it with a 60 min tick chart. Thing is the normal trading pattern isn't to see an immediate and complete collapse. You typically see the Bull and Bears really going at it for awhile thus creating a topping formation. The Bears have the selloff today at $35 and the trendline break to hang their hats on. The Bulls have a longer term uptrend to hang their hats on. The result will be increased volatility in the near time--a topping formation--I'm expecting to see a pennant, descending triangle or the like--which will be followed by a COMS break---what I think will be a break to the downside to retest the longer term uptrendline (lower channel line) at $27 to $28. Its always good to be safe however with a buy stop set above $35 or the downtrendline of the top of the pennant/other triangle though <g>.

To: TechMeister who wrote (23285)	10/27/1998 6:44:00 PM
From: matt fahy	Read Replies (1) \| Respond to of 45548

TM, I don't get as technical as you, Steve and Wayne so your analysis is much appreciated, but your conclusions are similar to my analysis, I have harder time putting exact ST price points. But on very ST basis I am looking for similar pattern as Steve mentioned and will buy some tomorrow morning and sell into strength immediately (near $34 if it gets there) and then will try and wait patiently for $30 or below. $32.5 should hold a day, with as much resistance as it took to get over it imo. I bought fore late yesterday since it was down over a point and with the thought that if market took out resistance it would spike to $16-$17, didn't happen in the morning and managed to get out with a 1/8 gain (before 10 am), better than the 1/2 loss on the day for the stock. COMS is definitely acting like a strong stock vs. market avg.'s so I will buy back aggressively at lower levels. COMS will downtrend with market and will get a nice runup around next earnings report (with a good report obviously) imo. Expecting a higher low than last time $27-$30 range Brazil or whatever, the market looked like it was at a ST top (bouncing up against 200 dma's) and it would have come down more likely than not (play it safe, that is what smart $$$ is doing imo). My market barometers are MSFT, DELL, YHOO, CSCO, INTC, NAZ, DOW, in that order and they were not acting strong this morning, a little head fake. Trading account has 100% cash position and almost shorted coms at $35, wisha, coulda, shoulda, oh well. Going for 500% vs. 50% return on COM$ in next 12 months :o)! Also, if Fore closes $12-13 gap it will be another nice buy imo!