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Non-Tech : Any info about Iomega (IOM)?
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To: Phil Tran who wrote (10032)10/25/1996 7:40:00 AM
From: Cogito   of 58324
 
>>Looks like way too many IOMG shares are being shorted already. From an earlier post, currently over 26 millions shorted. This is a staggering 1 out of 5 IOMG shares shorted. Could we (the shorters) all be wrong. Unlikely!<<

Phil, you're saying that because 26 million shares are held short, the shorts must be right? What about the over 130 million shares held long? If we're going to use sheer numbers to prove one side or the other is correctly foretelling the future, which numbers should we trust?

Of course, there are those who consider very large short interest to be a good contrarian indicator that a stock will rise.

I personally wouldn't base an investment decision on either of those numbers, because they're not proof of anything.

- Allen

BTW, Phil, your math is slightly off. There are over 130 million shares held long. 26 million of them have been borrowed and sold short. So the ratio is more like 1 in 6.
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