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MidnightTrader's After-Hours Trading Range Analysis: COMS and VLO

Posted by Keith Lanigan on Mon, Mar 24, 2008 @ 06:33 PM
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Here's some of what we're looking at in tonight's after-hours session and some perspective on how traders may want to play 3Com (COMS) and Valero (VLO) in Tuesday's regular session:

After-Hours: MidnightTrader's After-Hours Trading Range Analysis: COMS

6:21 PM, Mar 24, 2008 -- 3Com (COMS): Stock surged from 2.02 to a brief after-hours high of 2.23 at the start of the evening. It dropped back to maintain a plus-side range of 2.07 to 2.15 for the bulk of its after-hours trade. A pre-mraket open on Tuesday looks to have potential within the 2.07 to 2.15 area. Buyers were active in COMS between 2.07 and 2.15 for much of tonight's action so early morning longs may want to linger down near 2.07 to 2.10 to start the day tomorrow, an area that could see another eight cents to a nickel of upside if tonight's pattern repeats.

Companies: 3Com
Price: 2.07 Price Change: +0.07 Percent Change: +3.5

After-Hours: MidnightTrader's After-Hours Trading Range Analysis: VLO

6:24 PM, Mar 24, 2008 -- Valero Energy (VLO): Stock was cut down from 50.08 to its early after-hours low of 46 on relatively light-volume negative pressure. Moderate upside liquidity rolled into VLO at 46.30 and brought it back to a session high of 48.40. It stayed in a downside area of 48.25 to 47.42 through much of its late first-half and full second-half after-hours action. A pre-market open on Tuesday may have potential near 48 to 47.50. VLO looked to bang up against a tough ceiling tonight at 48.40 to 48, an area where shorts may want to watch to see if this spot remains rigid as a top - and perhaps provides some dips back near 47.50.

Companies: Valero Energy
Price: 47.70 Price Change: -2.38 Percent Change: -4.7

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