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

To: Don Earl who wrote (19342)	1/2/1998 4:52:00 PM
From: dwight vickers	Read Replies (1) \| Respond to of 42771

Don, (off topic) I was speaking with a 60ish friend of my Mother-in-law last week and was amazed that she kept referring to a mutual fund that "pays" 20%. I don't think she understood a word I said. Those people have been dragged into the market over the last 5 years and they are the ones who have lost their butts every time in the past that the market went into a long secular decline. They are not meant to be in the stock market, and some day won't be. How you described my thoughts about the future of the market/economy is close enough. There well could be a blowoff top coming that ends it all. But that would be too easy for you and I. Some markets have rolled over quietly. Keep in mind a couple of things. The earnings continued to roll in after the market topped in 1973. But it didn't stop the decline. In 1929 we had great technology. Electricity, autos, mass production, radio. All contributing greatly to productivity, just like computers are now. Didn't stop the depression. Every market has reasons for going up, then going down. No one tells you ahead of time, and they tend to not be obvious, except in retrospect. Today there are some reasons why we could go down, so maybe it is too early. But the risk is such that I'm standing close to the door. Buying long term paid in 1982, I fear it won't in 1998. Dwight (You knew Capt.Kirk in 1973?) :^)