Novell (NOVL) dirt cheap, good buy? Message Board

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Technology Stocks : Novell (NOVL) dirt cheap, good buy?

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To: E_K_S who wrote (14707)	7/16/1997 7:59:00 PM
From: Don Earl	of 42771

Hi Eric, On averaging: I recommend doing it in stages. For example if you bought 2 shares of NOVL at 11 buying 1 share at 7 gets your average cost down to 9.66 where buying 2 shares gets it down to 9. Increasing your position by 50% gives you the flexibility to take advantage of an unexpected drop without having to predict the absolute bottom. Plus sharp drops tend to recover faster than true bottoms. IMO Novell is at or close to the bottom but I had to look at a five year chart to see the pattern. I tend to think like a day trader and usually look at moving averages and bar charts of less than a month. Also IMO the time to average on MYLX was 2 points ago and the current volumn scares me. If NOVL completes the pattern it will take several months. The wild card is that I believe Dr. Schmidt would sell his grandmothers bones to hand Wall Street a surprise. You might look at PRMS. I got burned so bad on it a few months ago that I'm no longer interested in playing it but the chart looks good and insiders were buying it up like crazy last month. Regards, Don

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