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: Salah Mohamed who wrote (18752)	11/26/1997 5:18:00 PM
From: Paul Fiondella	Read Replies (3) of 42771

Well Salah you are certainly very modest I just want to warn everyone here one more time, you must understand that the US stock market is still operating with a Bull Market psychology. I did my own test the past couple of weeks on the Intel thread. I'm convinced that nothing, NOTHING, short of a real kick in the mouth will knock any sense into American investors. They and even us number crunchers have swallowed the whole damn Bull market scenario. As proof just take a look at the bidding up of MSFT's price in the last few days!!! in the middle of the financial collapse in Japan and Korea. Some of us have been following the Asian markets closely. I can assure you that the full impact on the US economy has barely begun to be evident. Samsung is rumored to be in trouble. Micron has charged that big time dumping of memory chips that could take it out of the business has begun. The bailout will land on Washington's doorstep. We have only begun to see the collapse in commodity prices --- gold and oil and copper. Well here's where the warning comes. COMPUTERS, COMPONENTS, and all of MSFT's business are also commodities, no different from automobiles in previous recessions now. We have been spoiled in this industry as we were in the early 1980's when the recessions passed over this industry. This time it will not spare the computer industry. So put some money into cash. Don't over invest in this market. Don't make the mistake of thinking it will go on and on and on. When the chickens come home to roost, all of us are going to look at how Americans have been financing this enormous buying binge we have been on the past few years. We are going to find out it is built on a mountain of debt --- no different from the mountain of debt that the Koreans now find their economic expansion based on. Just a warning and I'll shut up now. ===================== Happy Turkey Day. Let's hope the ghost of Metacomet, the chief of the Wampanoug feels kindly toward all of us after these many years. We are only humans and we all make mistakes.

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