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: Steve Fancy who wrote (20950)	3/11/1998 10:28:00 PM
From: E_K_S	Read Replies (1) of 42771

Hi Steve - I am thinking of actually shorting Novell. Although I still own some shares in my IRA, I think Novell may again test the $8.00 range. I am waiting to see some response from Novell regarding the Class action suit(and the time period as to when we may expect an answer). I expect the option expiration period (for March) to be on balance negative for the market and specifically negative for Novell. I think I might speculate for our $8.00 test for Novell in April or May but it is quite possible for this to occur in March if the overall market sells off. I believe (and IMO) if Novell does not respond to the class action suit in an appropriate time period, the market may take this as an overall negative for the stock and sell it off accordingly. Also, I see Novell sales coming up short for the next quarter. Hence, my overall negative felling (short term) for this stock. Therefore, I will be monitoring the May $7 1/2 PUTS and May $10 PUTS for purchase. It's hard to look at any shorts in this bullish market. At some point the "fundamental" reality will hit investors. EKS

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