Novacare (NOV) breaking out... Message Board

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Biotech / Medical : Novacare (NOV) breaking out...

NOV 15.67

+0.8%

Dec 19 9:30 AM EST

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To: Double Dipper who wrote (187)	1/23/1998 1:57:00 PM
From: Todd D. Wiener	Read Replies (3) of 420

BUYING OP! Kevin- The apparent breakout several days ago was only a head-fake. There was inadequate volume to signify a real breakout. But today's drop was accompanied by little selling pressure, indicating that this is a blowoff bottom, I think. The support at $11.75 will hold, as the stock sees the remaining weak hands sell out. NOV releases earnings next week, as does NCES, and it should be positive. The stock apparently needed to fall to below $12, in order to gather enough buying support to drive it into the high teens. My year-end target for NOV is $20, and my price target for NCES is $12. As I type, I am placing an order to triple my position in NCES and increase my NOV position by 50%. Todd

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