>>Rocky..if you dont mind,and if you hav'nt went over this before
i'm very curios why you went long.<<
The only reason is that it is a good short term play. I bought on that most recent dip into $22-land. I was able to snag it at $22 13/16 (pre-split, duh). I intend to sell it at $16 (post-split). This play is based on short term TA, and nothing more. But I fully expect Iomega to suffer this coming year, and so does Wall Street.
This meaningless stock split does nothing but further Wall Street's image of IOM as nothing more than a noisy, unbearable child of a stock. It is not taken seriously, as evident by its lack of Institutional support. It has well earned the recognition as nothing more than an Internet hype stock meant to draw in Newbie sucker investors. (present company excepted).
Personally, I can't wait to dump this dog when it hits my sell price, because IOM is sure to diappoint those who wish for it to break higher. It won't. Too much fear about the future (Sony, SparQ, 4.7 Gig Quest, Jaz2's delay failings, etc.) It just makes me too nervous knowing that I am hanging onto a stock which at any moment can lose half of its value at any sign of bad news, such as not meeting 4th Q expected numbers. |
