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

To: Spartex who wrote (19964)	2/4/1998 9:54:00 AM
From: Ben Antanaitis	Respond to of 42771

All, My point and figure chart shows big resistance line at about 8.25. I'll post a current NOVL chart on the BCA Software web site in a day or so. EZ-PnF v2.0U, the shareware version of EZ-PnF the point and figure stock charting program I use, is available at: pipeline.com There is a FAQ, screen shots and the download link... and it's free. Ben A.

To: Spartex who wrote (19964)	2/4/1998 5:20:00 PM
From: Don Earl	Respond to of 42771

Hi Quad-K, What I use for TA is kind of a combination of stochastics, MAs and pattern recognition in price/volume bar charts. Right now stochastics are high and turning down. This tends to be very bearish short term. That it broke above 7 1/2 would tend to be bullish after the pull back. I've found TA to be a very useful tool. My best gains have come from trusting the charts and my worst losses have come from fighting them. The hardest part about using, TA is doing what the charts tell you to do while ignoring euphoria and despair. It's impossible to predict news, earnings, whims of analysists, etc. All of which can break up a perfectly good chart. Right now I'm in the process of setting up another brokerage account, so I'm missing out on all the fun. It looks like I picked the worst time in the world to be sitting on cash while making the transition. I left some funds in my old account to fiddle with some options so all I can do right now is get a little vicarious pleasure from paper trading in a public forum. I have a bunch of $5 May puts on NOVL, mainly because I think they are going to crash and burn come earnings. It's not what anyone in their right mind would consider a safe play but it has some interesting possibilities and the investment is small if it turns against me. I also have some $60 April puts on YHOO that is a straight TA based play. We'll see. Going forward I would guess 7 1/4-7 3/8 to be the next good entry point for a trading position on NOVL, with a possible target in the high 7s low 8s, depending on what it looks like at the time. I haven't decided if I will play it or not but I do know I wouldn't get close enough to poke it with a sharp stick this close to 8. Disclaimer: This post contains a great deal of opinion and speculation and my opinions are subject to change without notice. Regards, Don