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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: Rich Young who wrote (19323)12/31/1997 12:56:00 PM
From: Paul Fiondella  Read Replies (2) of 42771
 
There does appear to be some strength in the buying

There is much more buy depth than sell depth. The stock just bounced off of the lows 7 3/8. But it just looks mostly like a retracement of the upswing from yesterday. There is some volume on the upswing from the low here.

Some people are definitely betting on NOVL with their money. The problem with NOVL is going to be the quarterly earnings and the general reaction of the market to any stock that disappoints in earnings this quarter --- ORCL.

Nobody here I think believes NOVL is a turnaround candidate just yet or has hit bottom. It has also been generally safe to buy NOVL at these prices, provided you sold in the 9-10 range.
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