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Non-Tech : Any info about Iomega (IOM)?
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To: Fred Fahmy who wrote (7823)9/27/1996 4:44:00 PM
From: Jeffery E. Forrest   of 58324
 
FF, I must respectfully disagree on insider activity.

Insider selling is a VERY important indicator> More important (IMHO) is insider buying, But insider selling is very important also > it just depends on what "type" of selling we're talking about.

If it's options related (shares that are part of employees pay package), then - ehh, not so important. Employee Options are time oriented-use'em or lose'um! It's a no-brainer.

BUT if it is outright sale of common shares > WATCH OUT
You don't have to look any further than Mr. Carrington and IMPX to see what insider selling can indicate > stock was overvalued, didn't have good news for future and dropped like a rock from 24 to 4 in about 3 months. People blamed Carrington, but he did nothing but make some money the good old American way. He used his head.

I bought 2000 IMPX at 10 (son-of-IOMG hype)(the rumor) and sold at 22 when Carrington did (the news).
I immediately shorted 2000 shares the same day solely based on his (insider) selling. Covered the shorts last week for 5 bucks. Great trip, you shoulda been there!

I would be looking (and believe me I will) at the TYPE of selling of IOMG. If it's outright sales and not employee options related, I'm shorting. (of course I'll wait for the hysteria to run the share price up more > got some OCT 30 calls in the money in first;)

Making a blanket statement like "history shows no correlation between insider selling and share price" is ridiculous. Please show me your data to back up that off the wall statement!
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