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

To: Steve Fancy who wrote (21375)	3/23/1998 11:16:00 PM
From: Frederick Smart	Read Replies (1) \| Respond to of 42771

Steve: You write: >>I'm netural, but skeptical at these levels. I don't want to miss the train, but I have to believe there will be opportunities to pick up well under 10 yet.>> I am playing this very patiently. Now is not the time to go running after any train. Novell's train is still getting serviced just outside the station. It moved ahead nicely and the herd is running to jump on board - for the short term. The price will only go under $10 when the last of these short term hopefuls jumps aboard. I am very bullish on Novell's longterm prospects. We have a nice mix of bullishness and bearishness at these levels - mid $10's which should prolong this lively standoff. I took some off the table when it first hit the mid-$10's from my short term account simply because of the quick return of lather and positive short term hype. I like it when stocks climb in the face of bearishness as we did out of the doldrums from early this year. The bears watched in disbelief and are still trying to fathom the reasons why. Also, remember, being neutral is the same as being "short". If you don't own Novell it's the exact same as being a naked short. By definition you have to get in sometime which means a long buy - the same action a short makes - a buy - in the end. We should be good for another retracement under $10 after Brainshare, post Barrons and the leveling off of the market in general, etc. Are you short??? Good luck!