RUBBISH 3.0 - Rocky's Un-Believably Bad Iomega Shorter's Histrionics
Today the NAZ, techs and hard DD makers were all down HARD.
IOM was up 1/2 to 19 1/4.
This might have worried bears with smaller cajones, but Rocky is made of pretty stern stuff. He casually passed time, as IOM rose, by trading audio recording tips with the guys:
techstocks.com
techstocks.com.
IOM reached 19 3/4 at around 3:15, and threatened to break out for 10 minutes, only to be rebuffed at this very tough resistance level. After it was all over, IOM had closed at 19 1/4, setting the stage for another try at 20 tomorrow.
Mercifully, CNBC handed Rocky a gift. It was all due to takeover rumors:
techstocks.com
Then Rocky generously lavished praise on someone for taking profits on 1/3 of his long IOM position. The kind of profits Rocky has never taken himself:
techstocks.com
Giddy with vicarious pleasure, he decided to "just to throw something in the fan" by naming Microsoft the takeover company:
techstocks.com
Next, someone mentioned a poison pill. Rocky declared himself "Vindicated once again!" :
techstocks.com
Having confused 'vindaloo' for 'vindication', Rocky then went on to explain how "repeated unsubstantiated rumors" (invented by shorters like himself) were proof that a stock is no good, because rather than damaging the credibility of the liars, it damages the credibility of the victim. This effectively squelched the unsubstantiated rumor that Rocky was once a rape crisis counselor.
techstocks.com
IOM reached the top of its trading range today. It did not break out. Rocky's taunts were inevitable. The silly rumor was a godsend for Rocky. But this too will pass. And though predictions are inherently problematic, I can make one with a fairly high degree of confidence: by the time IOM reaches 30, Rocky will join Joel in the great big den that IOM bears go to hibernate the winter in. Too bad because it's almost summer. They'll miss the best time of the year to fatten up.
With the IOM Rubicon spread out before us, it is time to rename Rocky's table to more accurately describe it. Some have begun to doubt that Rocky has a short position in IOM. He is just an actor, playing to the peanut gallery, but his performances aren't fooling or even amusing anyone these days. So along with changing the name of the table from "RIBBIT" to "RUBBISH", we retire the half-quote that started it all off, formerly occupying the 'up on high volume' slot, "This means IOM's PE is way out of line, it is about to die, and this time I really mean it" with some fresh words from:
techstocks.com
RUBBISH 3.0 - Rocky's Un-Believably Bad Iomega Shorter's Histrionics
IOM
Price
Change ........Volume ......... Rocky's Interpretation
------------------------------------------------------------------------------------------------
Down ........... Low .............This means IOM is drifting again. Just like a fat, balding man sitting in an inner tube, floating in the pool in the hot sun under the rusting sign of some cheap, sleazy roach hotel on the outskirts of Reno.
Down............Medium ....... This means IOM is being used as a helpless pawn
Down........... High ............. This means IOM is a dead cat
Unchanged.....Low.............. This means IOM is a dumped dog
Unchanged.....Medium.........This means IOM is a narcotic drug
Unchanged.....High.............. (unknown)
Up................ Low .............. This means IOM is a little boy, who sits alone sulking in his bedroom on Palo Alto Drive. His black eye swells and throbs, administered by the older, bigger boys
Up................ Medium ....... This means IOM is a dumpster among tech stocks, a broken stock, an Institutional bear trap; So a slight run-up is in order. We may have begun this today, as a matter of fact.
Up................ High ............ This means IOM will be bought by Microsoft because it would be a perfect match. The pre-emminent marketer of bulky, disc gobbling software and a half-assed imitation Mac OS, combined with the marketing-saavy maker of equally chintzy hardware that houses it.
=============================================================
The vindicating story of Rocky's long-IOM days can be found at:
techstocks.com
The 22 megashare question: where will Rocky cover his shorts?
Number of days unanswered: 35
Price change since then : +2 7/8 |
