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Non-Tech : Any info about Iomega (IOM)?
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To: Thomas J. Smith who wrote (25858)6/25/1997 5:12:00 PM
From: D.J.Smyth   of 58324
 
Thomas, as you probably know, the Dow stocks can stay in a tight trading range/holding pattern for sometime without it having significant impact on the small stock index. It's the small stock index which has been underperforming relative to the Dow. Many of these same companies should begin to outperform the Dow stocks, hopefully IOM will be one of them. Your support levels are correct, but IOM held at the mid-20s support level today which was bullish given the load of information placed on its shoulders. A stock can be fully judged by how it performs on one of its worst days. I think IOM should have fallen more today, but didn't. It held.

The Dow also bounced back nicely at the close some 35 points. The housing data in May up 4% after being down two previous months is digestible I believe.

There are other correlations of how IOM moves relative to certain factors which I won't mention and it is these factors that concern me most. IOM's has looked ugly trading down from $23, but today was different.
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