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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: john dodson who wrote (15709)8/15/1997 12:07:00 AM
From: Eddie Kim   of 42771
 
John,

Don't be surprised if CPQ hits $100/share within 6 to 12 months.
Sold most of my CPQ shares this week. Friday should be interesting with optios expiration. Next week before the FOMC and Dell's earnings might be a good time to pick some CPQ up. We'll see. This bull market might still have some legs.

""Typically, there are three different signs of a top," said Blumberg. "One would be a classic buying climax with a huge up morning followed by a complete reversal in the afternoon--we haven't had that. The second is a surprise-event day where something just comes along out of the blue and the market goes straight down. Of course, this is the worst kind because no one can predict that. The third one is a typical double top, where you'd see a 2 percent to 5 percent correction followed by a low-volume, poor breadth rally to new highs. We have a possibility of doing that now, so I'm more inclined to think that, from current levels, we're going to try to rally back towards the old highs. But, there is certainly a stronger possibility that we'll make a top there that leads to a larger correction. Indeed, if we do get a rally that is as I described, it most likely will lead to a correction of 10 percent a little bit later on."

From dbc.com

If we are going to make news highs on weak volume...so be it. Why fight the trend?

-Eddie
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