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: dwight vickers who wrote (10460)	3/30/1997 11:59:00 AM
From: FundAce	of 42771

Dwight, Your right. However, what were talking about are relative exchange rates. With the G7 committed (Notwithstanding Rubens comments at the Treasury), the Dollar will be under pressure this quarter. If that pressure reduces relative exchange rates against the Yen and Mark in particular, this will help NOVELL even if earnings in these market do not increase. This is pure exchange rate effect. Currency translations are a BIG effect on Novell. Traders don't only look at the interest rate, inflationary expectations are just as key, in particular forward contracts....and here the dollar will be under severe pressure. I'm also afraid the Bond market has positioned itself for a potential problem if Japan starst to increase their rates. Then you will start seeing outflows from US market.....this is the real risk to the market. Fundace

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