Novacare (NOV) breaking out... Message Board

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Biotech / Medical : Novacare (NOV) breaking out...

NOV 15.73

+1.2%

11:00 AM EST

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To: Andrew who wrote (345)	12/2/1998 6:21:00 PM
From: simarx	Read Replies (1) of 420

What hurt the stock are two fold: 1) Medicare changes which affects their revenue. 2) Management problems. The company had already taken measures to mitigate the medicare effect, but it was not enough. However, the two reasons above are what account for the current price. Basically the negative effect has already taken place. The question is, does the current price fairly value the stock. I believe it doesn't. Does that mean that it will not go any lower? It just may, however, at this price, it is probably wise to start a position, and begin averaging as we can't be sure when it will correct upwardly. What we do know is that the company is followed by a few influential firms. I'm hoping for a post January 1 correction. It's cheap enough to take a risk on...

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