Novell (NOVL) dirt cheap, good buy? Message Board

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Technology Stocks : Novell (NOVL) dirt cheap, good buy?

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To: Steve Fancy who wrote (17020)	9/7/1997 6:33:00 AM
From: Don Earl	of 42771

Hi Steve, I use Savoy Discount Brokerage out of Seattle. They run around $25 per trade. I've seen a lot of ads for $10 or free trades but I live in Tacoma and Savoy was the cheepest one that was close enough for me to knock on their door if I didn't like something they did. I'm up a little over $18K on Novell right now but I had to do some things that were more than a little nerve racking at the time to pull it off. I am doing 10K trades so 20-30 cents is meaningful. I've only been trading for about a year and the lessions I've learned have been remarkably expensive. But they were the kind of lessions you don't forget.....ever! What I normally do isn't quite day trading although I do do some pure day trades. My favorite play is when some brokerage firm downgrades a company from a buy to a hold and the price drops like a fat rock. It's almost a sure thing that the stock will retrace about half the drop the next day. I don't get greedy on those. I jump in take a small bite and jump out and it dosen't matter if the price doubles in the next month as long as I walk away with a profit. It's been awhile since I've traded anything besides NOVL. The last few were MYLX, PAIR, ASND and SUNW. They were all close to the 52 week low at the time and were trading well below the 12 day MA. I'm firmly convinced that NOVL will be a $30 stock within two years and I plan to hold it most of the time between now and then. I also plan to increase my cash position as I go by taking advantage of short term changes in direction. When I see a no brainer day trade I can do it on margin. I'm very seriously considering some 135 puts about six months out on MSFT but since most people would think I'm out of my mind I probably won't tell anyone if I do it. I follow about 50 stocks, of those that Joe doesn't own that I think look interesting are MXIM, SIII, MICA, RATL, AVEI, PRMS and FORE. FWIW if I were in a position to make 3/8 on a 5/8 investment the same day I would have been down the road with the money. As usual all IMO. Regards, Don

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