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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: DJBEINO who wrote (23931)10/7/1998 5:56:00 PM
From: Spartex  Read Replies (1) of 42771
 
Zen and the Art of the 50 day moving average for the wrecked techs
=;-(

I'm searching for any tech stocks that are still above their 50 day moving average. I could literally find nothing, NOTHING that was able to survive the past 50 days of selling.

NOVL just lost out today as it sunk below 11 3/8s (50 day moving avg point) and the 200 day is at around 10 3/8s a significant support level that most bulls would hate to see violated.

Otherwise, only YHOO comes up as a tech stock still comfortably above the 50 day moving average. Are they the last standing sacred cow of this severe 25% nasdaq correction (note the avg. nasdaq stock is 50% down from 52-wk highs) beginning in mid-July?

Kind of makes you wonder. Of course they beat their 9 cents consensus for earnings by 6 cents, as the dozen or so analysts covering YHOO realize that keeping the consensus bar low is important in keeping confidence for YHOO's current valuation, and many other internets as well.

On balance, Novell has been an admirable performer compared to its relatives on the nasdaq. Was it the August earnings, NetWare 5.0 release, good estimates for upcoming quarter? Now if only we can move up with the pack on a % basis when the eventual tech rally kicks in. I'd be very happy just to see NOVL stay with the averages going back up.

Humble I am,

QuadK
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