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Non-Tech : Any info about Iomega (IOM)?
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To: Sam who wrote (7960)9/29/1996 12:28:00 PM
From: Sabrejet   of 58324
 
Sam with all due respect, I disagree with the $34 TA high. I think it was common knowledge that this stock went to 27 on primarily short covering. 27 million shares is not renewed interest in investors or fund managers. But, as I said earlier, there is almost certain, still, a large short interest outstanding.

The TA will have nothing to do with this stock at this point but will have everything to do with the market as a whole. If the money continues to poor into the fund managers accounts, the momentum alone will force more shorts to cover. IOMG is not alone either. USRX, although there was rumor and announcement of development of a new modem, had the same thing happen.(others, AOL, MU, TXN)

If this issue doesn't move up by Wednesday, my thoughts are that it may retrace to 18(on TA only!)

Rich
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