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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: Serendipity who wrote (19353)1/4/1998 6:02:00 PM
From: Don Earl  Read Replies (3) of 42771
 
Hi Serendipity,

<The only thing I have problem with is that you chose to mention the
problems NOVL will have moving up. Why then, watch the stock closely enough to be able to make day trading calls on it?>

Actually, that comes from my experience that NOVL trades well but owns bad. I've owned and/or traded NOVL for the last 8-9 months (started out owning, switched to trading). I don't currently have a position in NOVL (I closed out my puts when it was trading at 7 1/4). I think you will find that most of us on the thread will post our positions when our orders fill. I currently feel that NOVL is a better short at the top than a long at the bottom. FWIW cover and buy can be treated as being roughly equal. "If" I were long right now, I'd have my finger on the trigger. I'm not starting a new short position. Yet. I suppose you could take that to mean that I think it will go up some more over the next few weeks. I think you will find that the input from Paul, Dwight, Joe, Eric, Vip and Salah amoung others is worth considering. I don't think you will find any one person that will give you 100% accurate play by play trading advise, but these are folks that have watched NOVL for years and do tend to know what they are talking about. In Pauls defense, I think he's kicking himself a little for not making the buy at 7 (round numbers) that he was planning. It would have been a sweet play but you would have to be able to pick up a 400 pound telephone to make it.

Regards,

Don
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