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

To: Marc Newman who wrote (20753)	3/6/1998 6:09:00 AM
From: Don Earl	Respond to of 42771

Hi Marc, I vaguely recall something like 30% of the market is SOES. NOVL normally doesn't have enough volatility to make SOES trading profitable. To see what the traders are doing watch the 3-20K blocks. What has been driving the volume so much the last week or so are the 100K plus blocks. Whatever those positions are they would probably tend to be longer term as those size blocks would be awkward to move in a timely fashion on normal volume. I also tend to look at the 1000 shares or less as buy and hold investments since commission and spread would take almost 1/8 to break even. That's a lot to give up for a trader that is looking to scalp a quick quarter. It's usually the more expensive, volatile stocks, that are always in the top ten that are favorites of the 1000 share traders. The volume from traders tends to dry up pretty quick once NOVL drops out of the top 10. I was looking over the revised statements on 3COM today. Heck, they only cheated a little bit and the SEC made them restate. Sure doesn't help the stock price when that happens. The chart on 3COM was actually starting to look pretty good, trending upward coming off a nice little double bottom. I was thinking about it but I think I'll pass. Joes favorite CPQ is starting to look attractive once it levels out a bit. Last time I looked Asia was starting to bounce back. I think the selling pressure will ease up some tomorrow, although I doubt the party time buying spree will continue. Regards, Don