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Non-Tech : Any info about Iomega (IOM)?
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To: Gary Wisdom who wrote (36711)11/20/1997 6:08:00 PM
From: D.J.Smyth  Read Replies (2) of 58324
 
funny Gary, i've felt that all along about this spec. labranche. it wouldn't be past the spec to take iom close to $37 to clear the shorts then tank it to clear the longs, create volume. a concern may be todd bakker with H&Q given his comments on disk drives makers in general. last year it was JP's analyst, about this time which commented (the comments of which proved nearly 98% false after earnings - everything was looking rosy before his comments came). some of the shorts in IOM were holding equal or less equal long positions who purchased IOM at the $35 offering last year before IOM's fall. so, they cover their short position only when they assume it is safe to hold the position long. a problem would arise if as they were covering their short position, they sold their long position and went short again on some analysts comments. if they don't engage in this behavior, iom could hit $41 (if they do engage...?). hopefully the institutions holding iom will act responsibly. so far it appears they are. i don't know.
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