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Technology Stocks : Novell (NOVL) dirt cheap, good buy? -- Ignore unavailable to you. Want to Upgrade?

To: PJ Strifas who wrote (27691)	8/13/1999 1:47:00 PM
From: Jonathan Thomas	Read Replies (1) \| Respond to of 42771

<<<< Any clues to options trades for the next week or so? I want to jump right in but I'm worried about economic indicators putting a drag on the market in general. Do you think Novell has enough upside to warrant some options (near term in the money or near term out?) Getting ambitious :) Peter J Strifas >>>> Peter, I see NOVL as having some upside left. RSI is low, upper bands are currently at 26, Stochastics are on the rise, but still low. According to my resistance charts, it has an upside to at least 26, at which point it will hit the upper bolinger bands, and RSI should be about 50, so there will be more upside. This is just technical indicators. I am predicting solid earnings, mostly due to the upgrade, and the mutual fund buyers. They know something. I covered call this stock, and I bought back my August 25s at 3/8 when it hit the low, now I'm waiting for the surge up (currently happening). I would buy an at the money call if you are speculating to the upside. Could double your money in a day or 2. I don't suggest it though, buying calls is like gambling, 90% expire worthless. I'll look real hard at selling at or in the money calls when NOVL runs between 26 and 27. Good luck... Ryan