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

To: WE89 who wrote (30415)	2/17/2000 9:22:00 PM
From: MileHigh	Read Replies (1) \| Respond to of 42771

Ok all you tech guru's who talk about things I know not, what was so dreadful about the CC and earnings? MileHigh

To: WE89 who wrote (30415)	2/17/2000 10:09:00 PM
From: Schmedley	Respond to of 42771

Just listened to CC and couldn't find any substantive reasons for after hours sell off other than profit taking - actually, quite the contrary.However, a rather blatant attempt at window dressing for weakness was present; One must bear in mind that the options expire on Friday and the option market makers have been selling calls by and large for some weeks now. They have tremendous profit incentive for rendering the February 45 & 40 calls worthless (35's as well -if they can pull it off without fresh buying coming in). They new after hours trading has furthered their machinations to no end. Looking at the Level II tape after the close, one can observe more than a few conspicuously identical large trades occurring throughout the session. In thin markets, these "swaps" are very effective at driving lemmings over a cliff at no cost to the "magicians" who lie in collusion. One often finds that these cliffs fail to exist the following morning. As a participant and observer of the new after hours market, I can assure you that regardless of the situation, it is a market in and of itself, highly vulnerable to manipulation. Often one finds that after hours market pricing is entirely reversed within the first 10 minutes of the next "real" trading day. My guess is that we'll be seeing a 40 close on Friday if the big option writers have their way (45 if they get burned buying their shares back). More importantly, Monday will see a more accurate portrayal of how the real market perceives the future of Novell and their CC results. This is one storm I will be ignoring.