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Biotech / Medical : Novacare (NOV) breaking out... -- Ignore unavailable to you. Want to Upgrade?

To: Kelvin Taylor who wrote (297)6/16/1998 12:50:00 AM
From: Todd D. Wiener  Read Replies (1) | Respond to of 420
 
Kelvin-

I think that NOV is attractive right now. Unfortunately, the rebound from $10.50 was only a correction in a downtrend, and NOV will probably revisit $10.50 or so, where it will put in a bottom (hopefully). According to the company, the fundamentals are good, so I continue to believe that the stock is undervalued. It's difficult to keep the faith sometimes, especially during market (and stock) corrections. But as long as the fundamentals for a particular stock remain positive, the best way to handle it is either to ignore the price fluctuations or take advantage of the low prices.

I'm doing the latter, although not on NOV this time. I have recently lengthened my position in THQI at $21 and SMTC at $17. I plan to buy more NCES at slightly lower prices, too.

NOV is technically weak-neutral right now. Any purchases should be made due to a positive fundamental picture, not technical.

Good luck,

Todd



To: Kelvin Taylor who wrote (297)6/17/1998 5:03:00 PM
From: Todd D. Wiener  Read Replies (1) | Respond to of 420
 
Kelvin-

You may be right. NOV closed on the verge of a breakout today. The recent downtrend seems to be almost broken. We'll need to see what happens tomorrow. If the stock can close at $12.50 or higher, we could be set for a run to $14 or so. If the stock pulls back tomorrow, we could see a double bottom below $11.

Todd



To: Kelvin Taylor who wrote (297)6/18/1998 4:46:00 PM
From: Todd D. Wiener  Read Replies (1) | Respond to of 420
 
ff3.quote.com

I'm making the call that NOV has broken out. Heavier volume today, and a close at $12.75 are fairly clear indications of a reversal. I expect that in the next 2 weeks, the high price will be $13.75 and the low will be $12.50, on a closing basis.

Todd


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