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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: Paul Fiondella who wrote (30076)1/28/2000 11:08:00 AM
From: Paul Fiondella  Read Replies (1) of 42771
 
Watching NOVL

This morning the employment numbers rocked the futures market. The long bond is in demand enough now to lower yields in front of the expected rate increase. That shows you how much money is fleeing to the relative safety of bonds. You would expect such a movement of capital to take place after the rate increase. This is not good for the stock market.

Secondly the 1/2 pt that I have been worried about seems to be on the table as a possibility for next week and from the people being quoted on the anticipated increase, only 1/4 is expected.

If the Fed moves 1/2 then the markets are going to react next week. We have to see how much more sentiment moves toward 1/2 pt before then. On the other hand by dragging out the rate increases the Fed puts pressure on the stock market but doesn't really achieve its objectives.

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NOVL hit its yesterday low and bounced right back and is now sliding back down --- 32 7/16ths on weak volume.

Another opportunity here for those shorting the stock right now to get really burned, since once the institutions make up their minds on Novell's earnings they will pounce on the low price.

Summary: NOVL still resisting the slide, fighting every inch of the way down.
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