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Non-Tech : Any info about Iomega (IOM)?
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To: isdsms who wrote (24826)6/9/1997 5:16:00 PM
From: D.J.Smyth   of 58324
 
Ira, appears to be pattern during the day wherein shorts/sells attempt to create a downtrend line, however small. It's worked well in the past, but since the upturn above $20, not so well. Previous pattern was to dump a bunch of shares prior to close which is indicative of a weak stock (i.e., weak kneed longs, or a stock holder base with partial conviction regarding IOM's future - significant day trading activity). However, strong buying prior to close is generally indicative of a stronger stock. The larger block buys wait for the best price, try to follow manipulative patters of shorts at close - this is my version. Of course, the full trend hasn't yet followed. Obviously, any close above $20 3/4 is bullish and the shorts want to prevent this from happening. I think the shorts are playing with a house of cards.
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