Novell (NOVL) dirt cheap, good buy? Message Board

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Technology Stocks : Novell (NOVL) dirt cheap, good buy?

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To: Paul Fiondella who wrote (19831)	1/27/1998 12:56:00 PM
From: Don Earl	Read Replies (1) of 42771

Hi Paul, Well.....breaking support at 7 on volume would be bearish. The selling pressure judging by the size and number of trades going across at bid also looks bearish. On the other hand, stochastics, using 10 days for %K and 4 days for %D (usually fairly reliable) shows it to be extremely over sold with %K crossing %D to the upside. A good buy signal most of the time. Sheep entrails and tea leaves work almost as well though. I figure I might kill a sheep and have a cup this evening and see what it looks like tomorrow. It's starting to look interesting for a quick pop but trying to catch a falling knife can be less than fun. There's a lot of resistance around 7 1/2. I'd like to see it a little cheeper for a short term play. The news comming out of the company isn't anything special right now. Hard saying what's going to happen with Novonyx. If Novell takes it back they'll probably hit the share holders with some kind of "generally accepted accounting principal" strangeness that results in a one time charge that nobody can figure out. I don't think it's bottomed yet but it's probably getting close. Regards, Don

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