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: Rich Young who wrote (6196)	12/26/1996 2:43:00 PM
From: dwight vickers	of 42771

Rich, I've been reading charts since 1969 and I think thusly. This is either the classic "snow angel" pattern, or the potentially deadly "three legged dog in the snow" pattern. And possibly the "blind man in the buffet line" pattern. Watch your shoes on those last two. Bet that sent some technical guys back to their "Guide to Chart Patterns" books. Seriously, I believe in support, resistance, moving averages,and trendlines. And even they are only guidelines. Head & Shoulder patterns, pennants, flags! Way too esoteric for me. I think we get that Jan. bounce again, even though I got those Jan.10 calls at the bid, also. My scenario says Nov. 8 was a bounce from mutual fund end of year tax loss selling. We are now suffering from a combination of investor tax loss selling and end of quarter mutual fund window dressing (would you want NOVL to continue to show up in your portfolio-blame it on Vinik). We should know soon! This is near the lows and good support!!! But of course there is always the "queen sized woman double bottom" pattern! Jean, it's ok as long as I end with this :-> right? Dwight

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