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: jim A who wrote (7542)	2/1/1997 12:12:00 PM
From: E_K_S	of 42771

Hi Jim - I cann't make out the reason either for such huge volume over the last six trading days. I can only think that some mutual funds are buying back in after their sales at the end of the year. Remember, we also had one huge put seller several weeks ago for 10,000 March 10 puts! Finally, a large number of contracts for $12 1/2 and $15 calls and very low put volume. In the past, as you had pointed out, the $11 5/8 and $12 3/8 areas were both large resistent areas. I noticed the same daily trend as you did and feel short term (next few days) the $13-$15 is quite possible BUT a sharp retracement will follow (on lower volume) to the $12 3/8 or perhaps your target of $ 11 5/8. Therefore, if you are quick on the trigger, there may be some good trading plays next week. However, I tend to stay away from the day trading as it can become very hectic and very eaisy to get wipsawed. Did you notice the large volume activity in CSCO and earlier in the week with Oracle. I wonder if either of these companies see Novell on their radar screen? EKS

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