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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: Jack L. Dlugach who wrote (3737)9/18/1996 7:46:00 PM
From: Chuck Stremski   of 42771
 
Jack, On CNBC evenings,Buy, Sell, or Hold Jean Peronini put a Sell on NOVL. It will be interesting to see tommorrow whos recomendation will take president.

I have no position in NOVL although I did years ago when you could buy it and it actually went up. I believe that there are forces at work here that want to see the single digits and being only 1/8 away it will happen.

How low will it go before an upside steady climb will occur should be at the 8 3/8 level on a huge down volume of 50 to 70 million shares, followed by another day of 25 to 30 million.

This would finally clear out the longs and the ones on margin and give the MM/brokeage houses all the stock they need to sell later at higher prices. I will buy in at that time.
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