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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: Joe Antol who wrote (19145)12/17/1997 3:38:00 PM
From: Spartex  Read Replies (1) of 42771
 
Thanks for your clarification Joe. IMO Novell has a very strong resistence point at the 7 1/2 level. Look at the big October selloff and other nasty days. This appears to be a safe point and that is why I picked some up at 7 9/16s a few days ago. I mean, if you subtract the companies cash, the stock trades at 4 1/2 dollars, and in my mind thats not nearly as much risk as a whole lot of other companys out there. Furthermore, I tend to like turnaround companies that are washed out, and have a new CEO thats trying to guide them in the right direction. I'm read some of the dirt on Eric S. (good and bad), but I feel that this company is one of the best picks right now out there in the tech land for those interested in a very little downside, and potentially a very good upside. Buy cheap, but also buy smart. I realize though that there is a history of bad decisions out there by the company in the past and that has burned a lot of investors creating a lot of rebellion and disbelief. Nonetheless, I'm coming in with a fresher perspective and as a value hunter. Sure they could disappoint next quarter, but whats the risk....7 or so? I'd rather take those odds than a Cabletron trading at 26-27 before their bad news.
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