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

To: Spartex who wrote (25300)	2/5/1999 4:15:00 PM
From: Paul Fiondella	Respond to of 42771

NOVL holds above 18 in sell-off This is a good sign since 18 is major resistance and if the market correction continues 16-16 1/2 is the next major step down. NOVL has been following this market and taking big hits. It's really going to be fun next week. In a NASDAQ tech recovery NOVL could be a real mover to the up side. For sure the MM's must have been in there covering their open Calls --- look at the profit, a point plus per contract. If you had written all of those 17.5's and 20's wouldn't you? ================== Today was a tough day of trading for me. I was covering short positions and trying to get the maximum, closing out my puts. At the same time I was buying more NOVL Calls. I saw Greenspan as positive for bubble expansion but the market wanted to correct after the Jan run-up. IT will get back to bubble blowing soon.