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Non-Tech : Any info about Iomega (IOM)?
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To: Guy Gordon who wrote (3524)6/26/1996 3:51:00 AM
From: Guy Gordon   of 58324
 
To all: It seems that a lot of people are expecting IOMG to fall tomorrow. That may even happen -- sort of a self-fullfilling prophesy.

I have considered whether I should try to sell and then buy back when it bottoms out. The trouble is, I have absolutely no idea what price that would be.

It would not supprise me to see IOMG gap down at open, then turn around an rise all day. We know there will be sellers, due to the Cabot hot line. But when will the buyers get back in? I don't know, do you?

So I am going to hold my shares. Really for one simple reason. There has been NOTHING but good news about this company and its products. Let me repeat that: NOTHING but good news. (The bad news has been about the stock.)

The only excuse for bad news I can find is the announcement by Mitsubishi that they will manufacture the LS-120 along with MKE. Great. A second source for a product with no sales.

I'm convinced that Iomega will release great earnings results in July. I'll wait for that.

BTW, I think what spooked Carlton Lutz is his 2-second indicator. Lutz beleives that 5 days in a row with more than 40 new lows on the NYSE signals a steep market decline. Yesterday there were 61 new lows, in addition to Monday's. Plus, there were two or three days with >40 new lows last week. He is probably positioning himself to buy back on a big dip.

I have proven to myself many times that I have no ability to time the market. But I'll be tempted tomorrow. If IOMG dips to 20 I'm buying more. But I seriously doubt that. This company is too good. I think the big boys will be buyers tomorrow. They are just waiting for us small fry to cough up our shares at bargain prices.
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