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Non-Tech : Any info about Iomega (IOM)?
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To: KM who wrote (31416)10/7/1997 6:36:00 PM
From: D.J.Smyth   of 58324
 
most likely hedge funds have lost considerable funds on the recent upturn in the market. because IOM's Nomai recent nemesis Abelson and ilk, IOM was trading along it's base support of $25 for three days, breaking through, which is rarely positive for short term price, so Hedgers jumped on IOM today all the way down to cover losses in other stocks. IOM is their patsy. most of us longs will give into any negative idea that comes along despite its invalidity. what goes down must come back up, like a rubberband, especially since most of the activity was shorting. selling was being done a pressure sell points. you don't sell at such points unless you stand to gain more from a short position than a long position. throw in other variables such as DDX trades, and you've got a one day loser.
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