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

To: Elmo Gregory who wrote (22275)	5/24/1998 6:31:00 PM
From: DJBEINO	Read Replies (1) \| Respond to of 42771

elmo you have to subscribe, they are offering 2 weeks free. stocksmartpro.com

To: Elmo Gregory who wrote (22275)	5/24/1998 6:53:00 PM
From: E_K_S	Read Replies (5) \| Respond to of 42771

Elmo & DJ - A few observations based on the posted holdings data. (1) Only two reported transactions in Q1 1998; One net Buyer (Meryl Lynch) and one net seller (State Teachers Retirement Assn). Six transactions from 12/31/97.... Four net Buyers vs Two net Sellers reflecting a 9.5 to 1.0 bias on the BUY side. Alex Brown made up 73% of the net BUY volume! (2) The State Teachers Retirement Systems continues to hold but total holdings are down to 2.3%. I believe they once had holdings in the 5% range. It appears they have been net sellers in the last 24 months. (3) Many times these large Institutional Shareholders will accumulate shares in a Trust account for a potential acquirer. The shares are held in these accounts (for the client) until a 5% ownership interest is obtain then an ownership form must be filed with the SEC. Therefore tracking new ownership changes can be quite interesting too. (4) Both Ryback and Alex Brown increased their holding substantially from 12/31/97. Note Alex Brown's holding up over 1000%! (5) 30% of the top ten mutual funds are new positions established since September 1997. This appears to be a bet on the appointment of CEO Schmidt. ===================================================================== I guess I am surprised to see the Alex Brown activity. Do they represent NOVELL in any way as their institutional banker? Why would Alex Brown purchase over 6.8 million shares during 1998? Should this be considered 'normal' investment activity? EKS P.S. We may want to keep our eye on Alex Brown and their future investment positions on Novell. Also, keep watch on any other investment activity they may establish for these companies (ie. Computer Associates, Lucent, IBM, or Netscape).