Any info about Iomega (IOM)? Message Board

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Non-Tech : Any info about Iomega (IOM)?

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To: Marie Thorsson who wrote (8443)	10/7/1996 6:36:00 PM
From: Sabrejet	of 58324

Marie, IOMG opened on a downtick, therefore one could not short the stock. A better analysis of this is to examine the time the issue maintained an uptick condition with MM's reversing to prevent shorting.(perching the price up). An eyeball analysis of this indicates to me, short selling at these levels has been discontinued. My charts indicate the issue is stiil down on momentum but the minute it turns, it will be time to buy. Volume on the day was very low. IMO, with the naz setting a new high on average volume I would think that highly shorted issues may get a near term boost. I covered my position at the open and currently am not in IOMG. We may trade in a small range now. Accumulation, according to IBD has increased from a "D" rating to a "B" rating. I will now go on record as saying as long as the market continues up, if we take off in the NAZ, look for any dips to buy...ONLY due to the short interest and accumulation. It just became very tough to trade this issue currently on a daily basis. Momentum has to turn first. Possibly tomorrow. Maybe not for a week. Better to be late on the rally than too early. Remember, momentum, high volume, better a bit late than early. Rich

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