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Technology Stocks : NovAtel - Global Positioning Systems
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To: David Rubin who wrote (57)12/1/1997 10:38:00 PM
From: Robert T. Quasius  Read Replies (1) of 191
 
I have a lot of stocks like NovAtel: fundamentally strong and sinking for no apparent reason. I think that several things are taking place.

1. Investors have becomed trained to buy the big cap stocks on the dips. When the big caps start to become overvalued, money rotates into stocks like NovAtel.

2. The micro and small caps stocks got pulled down when the market tanked, and haven't recovered yet.

3. Profit taking by mutual fund managers.

I am staying put with NovAtel and similar microcap high growth, low P/E stocks until the stock reach a PEG of near 1, or the story changes. NovAtel will recover in time, but as with any other thinly traded value stock, patience is required.

Happy investing.
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