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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: john dodson who wrote (16442)8/26/1997 4:40:00 PM
From: vinod Khurana   of 42771
 
Hello John, you asked for a reason. Heres why ?

The options trading is too light. When did you ever hear of investors buying the stock and not the options just prior to a merger being announced. If you watch the business shows, it is usualy mentioned that the SEC is investigating possible insider trading.

Options trading was far to light for something like a takeover to occur within the next few days. Perhaps later on in the year, IBM or some company will buy them out but I have my doubts for now.

In the meantime while the speculation continues, it is good idea to unload into the rally. $10 5/8 - $10 7/8 was my target but considering I was making a ton on the call options, a few hundred here and there did not make a difference.

Now when I sold the Sept 7 1/2 and Jan 7 1/2 calls today, I switched into the Jan 5 calls and sold the Sept 7 1/2 calls. Pending a takeover, this stock left a widddddddddddddddddddddde on the upside and from yesterdays close of 9 3/16. We have gap at $8 3/8 left two days ago. I believe we will come back to $8 3/8 and slightly lower before heading back to above $10.

Todays volume in the stock, the lack of volume in options and the fact the stock did not close at the days high of 10 1/2 is a sign to me that the MM's are defining the new resistance. Within the next few months, we should approach $13 and possibly set a new high for the year.

I am now tradng both on the downside and the upside.

TAKEOVER is NOT coming anytime soon. The options are the one to watch for that kind of activity.

V.K
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