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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: Paul Fiondella who wrote (18030)10/19/1997 2:44:00 AM
From: Don Earl   of 42771
 
Hi Paul,

Well....I already have some April 130 puts on MSFT. I believe earnings are due to be released on Tuesday. As ugly as the market is right now comming in on target won't be good enough. In a round about sort of way I'm using the puts as a sort of hedge against an interest rate increase. At the time I bought them it was a three way tie between MSFT, INTC and AMAT. All three are high profile companies that are, IMO, over priced and seem to me, to be likly targets of a big sell off in a bad market. I was also looking at CPQ and DELL for the same reason.

<Is CPQ in buy territory yet?>

There is a double top that doesn't look good but it appears to be oversold so a short term trade might be an OK gamble.

The market usually rebounds after one of these panic sell offs, but if MSFT gets clobbered on Tuesday everything will probably get hit. If the Fed raises interest rates it will be March all over again. I'm kind of wishing I were more heavily invested in cash right now.

My crystal ball is pretty cloudy, hard saying what's the best course of action. In general I'm getting kind of bearish on everything. If SUNW gets into the mid 20s again I might pick some up.

Disclaimer: Except for the first sentence this entire post is pure opinion and contains forward looking statements that may differ materialily from actual results.

Regards,

Don
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