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: Bearded One who wrote (23692)	8/31/1998 7:07:00 PM
From: DavidD	Read Replies (1) of 42771

You guys are so full of advice, well I got a tax problem!!! I just covered 1030 and 1040 September puts on the S&P500 at the close. As a result my realized gains for the year are substantial. However, I own a large NOVL position at an average price of $11.62. Now it is 9 1/2. Combined with a loser mutual fund I sold today (at an as of yet unknown price) I could have a net tax loss if I sold NOVL at 9 1/2. But I want to own NOVL and with the wash sale rule I would have to wait 30 days before buying NOVL back or I couldn't get the loss for tax purposes. So the big question is: What is the likelihood that I can pick up NOVL below 11.62 in 30 days? My choices are to keep buying now, or sell (get the tax loss) and buy back in a month. I think it is a very low possibility for NOVL to go back above 11.62 in that time because of the negative sentiment in the market. People are going to wait to see 5.0 ship, and will want a good month or two of sales data (the big funds will get this info from distributors, etc.). What do you guys think? Sell and buy back next month? Or keep buying here?

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