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

To: BP Ritchie who wrote (18119)	10/27/1997 1:08:00 PM
From: vinod Khurana	Respond to of 42771

Hello BP....this is a very short term play. As you know, Novemeber expiry is less than four weeks away. In that timespan, I am looking for NOVL to trade over $9 at some point...then I am out. The correction in the market in my opinion is not over yet. The DOW in my opinion could find initial support at the 7400 level followed by a break below 7000 given whats happening overseas. Perhaps HONG KONG will be cited as the reason for the start of that magic 10% or worse correction every one has been looking for. I still have a target on NOVL at $12 1/2 - $13 but this rally will probably not start until the usual Santa Clause and New Year rally begin. It will not take much for NOVL to move up a full $1 on a single day as evidenced over the past few weeks. The low I see on NOVL is $8 1/8. Anything below and I will accumulate aggressivly. V.K Happy trading!!