Any info about Iomega (IOM)? Message Board

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Non-Tech : Any info about Iomega (IOM)?

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To: Chi-X who wrote (7663)	9/26/1996 7:38:00 AM
From: Erik J. Lupien	of 58324

Chi: while I'm not an expert on options etc. I have some inclination about the traceback rule of thumb that mathematics point to. Goes something like this: IO reaches high of about $55.00; IO bottoms to of about $14.00; That's a high-low difference of about $41.00; Mathematics tell us that stocks will trace back some 50% of their loss, so 50% of the $55.00 to $14.00 loss is $20.50; Add $20.50 to $14.00 and you get $34.50; $34.50 (give or take a few bucks) should be the next serious resistance level for IO. A more conservative traceback valuation, however, would see a traceback of 33% as the first resistance level; making $27.67 (give or take a few bucks) the next resistance level. When the 33% level breaks, we more to the 50%, then the 66%. I'll adopt the more conservative view and see about $27.00 as the next resistance level. I hope we see this by week's end. If we surpass the $27.00 level traceback resistance, then we're on our way to $34.00; I suggest folks keep a tight watch on the movement of the stock and hold tight; we're on our way up as IO defies gravity and continues to break the rules on P/E and market cap . . . REMEMBER: traceback takes place! Erik.

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