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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: dwight vickers who wrote (17443)9/20/1997 1:20:00 PM
From: Don Earl   of 42771
 
Hi Dwight,

Thanks for your comments. It helps confirm things I've read and personally experienced or observed. Sometimes it gets a little hard to stand firm when all the lemmings are yelling come on in the water's fine. Like you say timing is everything, sometimes I see things happening and start my play too early. Learning a little TA has helped me a lot in that area.

I went through a bottom earlier this year, went into a blind panic and bailed with a huge loss. I checked the thread the other day and the folks that urged riding it out are still long at about 4 times what I sold my stock for. It was a costly lesson but it saved my ass a few months ago with NOVL.

I appreciate your imput on puts. That's what I did and paid the extra premium to give myself some extra time cushion. There have been times that I would have liked a short play but wasn't willing to accept the risk involved. Puts seemed the best alternative as I can set an absolute dollar amount on what I'm willing to risk. The funny part is that I had to jump through all kinds of hoops to set up my account to trade options but they automatically set everyone up to go with a straight short play when they open the account.

I think it's interesting to see shorts getting threatened with law suits, when longs that are screaming buy close to the top have the greatest potential to cause damage.

Should I add that these are my opinions or are we all getting just a little too paranoid. I'd sure love to see a test case.

Regards,

Don
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