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Non-Tech : Any info about Iomega (IOM)?
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To: Smart Investor who wrote (7287)9/19/1996 7:27:00 PM
From: eDollar.com   of 58324
 
Dear Smart Investor, the rise is mainly due to short covering.
May be something triggered in the minds of the shorts to cover. Could be the liscencing announcement previous week,
or the news today or the general market bull psychology.

One thing is that it is a positive sign for long investors of IOMG.
The squeeze happens for a period, and may continue for some time.
With this kind of volume, more shorts will get nervous and will
try to cover. The same happened to CUBE, happening to ATML and
may be IOMG has joined the club. Technically it almost broke a
resistance. If it goes up tomorrow or in early next week, I will
expect it to go to 25-27 nearterm. But if market psychology
for tech change we may not see that. many tech stocks have gone
up too much. I am not worried about it, but I am worried how fast
they have gone up
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