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 (20796)	3/6/1998 6:00:00 PM
From: Frederick Smart	Read Replies (2) of 42771

>>This market is getting to end of its rope. The Dow is at 22 times earnings.>> Keep selling Paul. Others are buying. Cumulative impact of productvivity gains from technology, employment rechannelling, lower interest rates, mortgage refinancings, lower tax rates and industry consolidation - is huge. Add in the Roth, Education and other IRA's that are feeding this for the short term. Sure this won't go up in a straight line. What surprised me yesterday was the extreme bearishness that all of a sudden surfaced. I was smack in the middle of one of largest BD trading floors in the U.S as we hit the opening. Based on a casual tracking orderflow commitments - electronic messages to buy/sell - this manic bearishness is still rampant. We need to see more buyers reaching in hoards before an intermediate top is set. Why didn't the market go to hell in a handbasket over the Asian flu late last year?? Because "the crowd" bought the story and voted with their feet. And it will take "the crowd" to finally throw away their hesitancy and buy by reaching for stock - just at the wrong time - for us to set a shift in momemtum. Paul, don't fight the tape. We are getting close, but not quite there. Longer term, the market wants to see 10,000 on the Dow. And we will get there sooner than we think. What about Novell??? See my last post. Sorry for the digression Good luck!

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