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Non-Tech : Any info about Iomega (IOM)?
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To: J P Cross who wrote (6909)9/5/1996 5:45:00 PM
From: Ken Pomaranski   of 58324
 
Hi JP! Good to have you back..

I too am waiting patiently for an entry point, but I am afraid of
the Q3 report. The stock is floundering now, but I don't think
it can get too much lower than 12 1/2 before the Q3 report. The
shorts will thank the Lord and start bailing if it ever gets that
low again. The 'sideline longs' (like me!) are waiting until the
Q3 report, and won't risk it before that time.

The high short position (it REALLY suprised me) throws a wrench into
some of my previous statements. I am VERY suprised at how gready the
shorts are. I thought most of the shorts bailed when we headed below
20. Boy was I wrong!

As I stated before, the short position will create a nice cushion
under the stock until the Q3 report. After that point, we will either
be at 10 or 20, who can tell?

For now I am staying away, then I'll create a Straddle position just
before earnings report. I'll then follow up on either the long or
short side depending on the report. In the meantime, I'm out of here.

good luck,

kp
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