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Strategies & Market Trends : Befriend the Trend Trading -- Ignore unavailable to you. Want to Upgrade?

To: Caroline who wrote (2947)2/4/1999 6:49:00 AM
From: Dr. Stoxx  Read Replies (1) | Respond to of 39683
 
CB,

On COMS:

A gap-reversal play is feasible. Especially if the drop is in response to, rather than anticipation of, bad news. Price is at a minor support level. Ideally, you would want to watch Stoch14 on hourly charts to determine a precise/safe entry, as well as OBV to detect reversal of momentum. Return should be about $5+.

But consider that major support is not until 35, and if news is still forthcoming, then there is likely to be 2 to 4 more days of selling.

Keep us posted, TC.



To: Caroline who wrote (2947)2/4/1999 10:18:00 PM
From: Caroline  Respond to of 39683
 
Buy recommendation on COMS from pasnewsletter.com:
COMS: 3Com broke down from a H&S top this week and has dropped ~35% in just 3 days. Prices are now approaching key support from the upper boundary of a Rectange reversal channel. Volume is in the "panic" category. We are buyers as it appears that this stock is on sale. Buy COMS with a LIMIT of 32 1/8. Target is 34 5/8. Protective stop is 31 5/8.

quote un-quote.

Caroline


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