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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: Paul Fiondella who wrote (31777)5/21/2000 12:57:00 PM
From: Sir Francis Drake  Read Replies (1) of 42771
 
<<I would take exception to one part of your statement --- "this is not a stock that tends to rocket." Actually the move from 30 to 43 in a relatively short time frame was characteristic of internet rocketing stocks>>

Well, we must have very different ideas of what constitutes a "rocketing". The move from 30 to 43 took 15 trading sessions - some 3 weeks, to move 13 points! LOL! When I short, I am not worried by such moves - I am worried by the internet and hi-tech stock type moves, like JNPR (my regular trading vehicle) that moves 30 points in one day, or a RMBS short squeeze running up 50 points in one day etc. THAT is the kind of rocket that can kill a short - and that is what keeps me awake at night. I am very careful and paranoid when shorting such stocks. NOVL by contrast is a piece of cake - 13 points in 3+ weeks, LOL! If that is the fastest this stock can move, then it makes it about as safe a stock to short as any I can think of... which is exactly why I was happy to short NOVL rather than the infinitely MORE overvalued RMBS - NOVL can't hurt me as a short - if I think the trend is heading up, I can get out with a 3 point loss at worst - but what do I do, when RMBS rockets up by 50 points, and then keeps rocketing up for weeks on end? See my point?

I agree w/ the rest of your post. Just have a different point of view, as a trader, when it comes to price movement.

Morgan
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