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

To: Steve Porter who wrote (23326)	10/29/1998 1:10:00 AM
From: joe	Respond to of 45548

Steve, I agree. Looking at today's chart, looks like a little consolidation...the usual accumulation by "smart buyers". Yesterday, in the morning when the market was very strong (very strong!), one thing that struck me, was how there was a sh*tload of combat at 35 and a little under. Looking back at this, it seems that all the traders that had bought earlier, and wanted to sell at 35 were unloading like crazy at 35 (plus it's an options exp. date like you say:-) ) AND YOU KNOW WHAT? Somebody (actually probably a small group) was just standing there with both hands grabbing it all in. COMS did not budge much at all around 34 7/8. VOLUME WAS HUGH. After words in the day, most of the downward movement was on LOW VOLUME. The test was as you said, did we go down to 30-31. NO. IMO, this was market dependent. It's whether the big market movers think there is still some big rallies left because of the rate-cuts. Today, was a sign of "yes", the trend is up...but I'd like to see another day at least. Also, IMO, the next upward rallies will be a little more cautious, with very rapid profit taking...with ya'll posters just amplifying the process. joe