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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: Jack L. Dlugach who wrote (14839)7/22/1997 2:58:00 PM
From: Don Earl   of 42771
 
Hi Jack,

I kind of get nervous when expressing my opinion might cause someone to spend money. I averaged down last week. "Gulp!" is right. If this isn't "the" bottom I've increased my risk considerably.

Looking at a price and volumn bar chart if you play connect the dots on the bottom of the price and the top of the volumn, the text book "bottom" pattern forms a stretched out U shape on both with unusually low volumn in the middle and low volitity the length of the price curve. Novell has a nasty way of messing up a perfectly nice pattern but so far it seems to be holding. For the pattern to continue the price needs to stay within a range of about 3/16 with the low price and volumn increasing slightly each day for the next week or so.

TA is a tool and I consider my understanding of it fairly limited. I think some people get so caught up in it that they forget to read the news. I think there are a lot of things to consider whenever buying or selling stock, including each persons individual tolerance for risk. Never bet more than you can afford to loose.

The only thing I can really say for my opinion is that I do back it up with cash. Other than that it's only an opinion and you know what those are like.

Regards,

Don
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