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: DavidD who wrote (23399)	8/5/1998 4:32:00 PM
From: Spartex	Read Replies (1) of 42771

Off topic.... Wednesday August 5, 3:35 pm Eastern Time Dow slides 100 points to below 8400 late session NEW YORK, Aug 5 (Reuters) - The selloff in U.S. blue chips was stepped up late session Wednesday as the Dow tumbled more than 100 points to new low's for the day. ''It's just more of the same - we are in a severe correction here,'' said Bill Allyn, head of trading at Jefferies & Co. ''More and more folks are anticipating a decline and this could feed on itself,'' Allyn added. At 1526 EDT/1926 GMT, the Dow was off 102 points at 8386. The Dow fell to a new low of 8361 points for the day before easing back. At the new session low, the Dow was off 10.45 percent from its record high close of 9337 on July 17, well within the 10 percent market drop that normally constitutes a market correction. The Nasdaq was off 29 points at 1756. Analysts said the Dow was still looking and testing for a proper floor before the correction is completed. biz.yahoo.com I personally feel that the street was looking for the 8200-8300 range as the nearterm floor of the DOW correction. Its anyone guess whether this is a bottom going forward or not. I'd like to think so. A 100K block of NOVL was bought near the close, and that may have kept a lid on the "asking" price until it filled. Would be nice to see a gap open to the upside on Novell tomorrow morning. I sense once coming, just not sure if it will be this week or next. Regards, QuadK

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