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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: Paul Fiondella who wrote (15006)7/28/1997 1:43:00 PM
From: Nadim Mando   of 42771
 
Paul, I guess you wouldn't mind if I said I told you so :o)
I did pick-up more at the open and caught the wave. We have 2 good signs :
1- High volume
2- We blow 7.5 quickly.... and moved to 7 3/4

However, the stock is trying to build a new base here. We may either move higher to 8 1/4 - 8 1/2 to test an old support ( now resistance) or may retrace ( As much as I would hate to say it) to 7 1/2 and test the new support. Please REMEMBER, that we are getting overbought here. History of this stock taught me that it would pull back when the buying is done. So many people as yourself and Joe and others would love to get out of NOVL as well as momentum players. So be ready to sell and protect your profits. The thing is, if you have 13K,
for each 1/32 stock movement = $ 406
an 1/8 = $ 1625

Makes big sence to me to sell at a high, then renter at a lower price. As of now things look very good and I am watching the tape. I might sell as one doesn't have to pick the top. I will keep you posted.
enjoy it while it lasts

Nadim
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