While not completely discounting your observations concerning product sales in stores, I believe you could be seeing things through Iomega colored lenses. I was in CompUSA on 5th Avenue (possibly the single most imporant, high-traffic computer store in the world), and I saw people buying Zips, but I also saw a guy wanting to buy the Avatar Shark, (the salesman checked his computer and said they sold the last ones the day before). I saw people buying Syquest EZ135 discs (imagine that!) an Ez Flyer, EZ Flyer discs, and Syjet was completely sold out (all models).
If you did short SYQT between 4.5 and 5.25, you could be breaking even right now. Look at this fact- SYQT is holding up very, very well (Up 7.86%) during this tech bloodbath. Hell, IOM reported great earnings yesterday, but both stocks are going up about the same percentage.
I'd take this as a warning from the Street to where SYQT is heading. Back up into the 5's and higher. |
