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Non-Tech : Any info about Iomega (IOM)?
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To: KM who wrote (42352)1/4/1998 9:35:00 PM
From: Ben Antanaitis  Read Replies (2) of 58324
 
Hello All, Happy New Year,

I'm back from vacation now and have been asked 'on thread' and by email what I am seeing re IOM. Here is a two part answer:

Part 1) EZ-PnF analysis:

The current "trading scaling" 'signal' is undetermined and is still forming. It appears to be a "triangle" formation, a series of lower highs and higher lows narrowing to a point. This pattern, when it fully forms into EITHER a Bullish triangle or a Bearish triangle typically presages a dramatic and swift price movement (in P&F time.. like dog years).
The Purdue University study of P&F patterns shows that the Bullish triangle is profitable 71.4% of the time with an average gain of 30.9% realized in an average time of 5.4 months. A Bearish triangle is profitable 87.5% of the time with an average gain of 33.3% realized in 2.5 months. Bearish gain is, of course, based on selling short or selling at the signal to buy back at the bottom.

The pattern is currently in an uptrend column that is hitting resistance at 12 3/4. A reversal to a downtrend would hit support at around 11 7/8. If this resistance holds, the triangle would still be forming.

I think that the true determination of this pattern will coincide with the release of the earnings report.

The 'investing' (A.W.Cohen/Tom Dorsey scaling) pattern is still bullish, just stalled in it's uptrend column because of the small value of the price changes lately.

Part 2) The thread.
The IOM thread is beginning to look like the AMD thread now that one of the 'stars' from over there has landed on us like a manure spreader in a Kansas wheat field. If anyone wants a preview of what things can deteriorate too, go over to AMD and look around. My recommendation is to totally avoid confrontation and any form of reply whenever the provocateurs posts. It was bad enough when had our own little herpie who flared up every now and again........ sheez, now it's like shore leave in Tijuana!

Ben A. (Still long, holding and watching the chart)
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