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 (7540)	2/1/1997 11:55:00 AM
From: jim A	of 42771

The volume the last few days was staggering as we see institutions likely gobbling-up this still undervalued stock. Why institutional buying?? The intraday charts for Thur. and, especilally yesterday, indicate it is now starting to follow the general market trend (something it was not doing months ago). It was up to 12.75 with the up-market until there was a mid-afternoon selloff (NOVL went down to 12.25) and late market tech surge with NOVL following to 12.75. Notice the 3 or 4 million shares that traded at 12.625/12.75 during mid-day. Although there has been a run-up since 9.5, mostly of the big volume has been since ~11. I look for more quick upside the next few days to 13.5 then some consolisdation to the heavily bought 11.625 area, before we see surge with earnings and hopefully CEO announcement. Of course we could see a similar trend as the last 2 run-ups which would mean back to 10.5, but the volume at >11.5 was to high this time around to warrant such a short-term pullback.

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