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: E_K_S who wrote (23642)	8/28/1998 9:04:00 AM
From: ToySoldier	Read Replies (1) of 42771

(off-topic)Eric, Our dollar (Canadian) has been dropping fast for over one month. It is now about 8 cents lower than it was a couple months ago. We are being hurt by the Asian crisis for the most part. Canada is a Resource based economy and it sells a lot of these resources to to Asia. The problem is that money Market speculators have gone to the extreme and - although our economy is in good shape - they have being dumping our dollar and jumping into the US$. We are not alone in this problem but by being labeled as a "Resource Economy" we are being picked on more so than other countries. With the Russian crisis rearing its ugly head, the central bank of Canada did what it said it wouldnt do - it raised the prime lending rate by 1% to support the dollar. Unfortunately not only did it not stop the dollar from dropping, but our Stock Markets responded quite naturally by plumeting (TSE dropped 370+ points or 6%). Eric, we have been hitting new Dollar lows almost every day for the past 3 weeks. Its the interest rate hike that was a shock. Toy

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