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Non-Tech : IOMG just dropped $3.50 in 15 minutes (5 million trades!)
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To: Marie Thorsson who wrote ()9/29/1996 8:13:00 PM
From: VINCENT ST.JOHN   of 25
 
Marie;

What you're seeing is typical for IOMG and any stock with a
ridiculous P/E.

It was probably a large short position which also causes sympathy selling from retailers who were in at range of 14 to 18,

When you see a large drop and then a rebound, as long as IOMG trades along a 10 day moving average, the shorts will cave in, and in turn
short covering will cause IOMG to rise dramatically. The higher and
quicker the rise, the more shorts will have to cover.

Continous short covering is a good sign for nice short term profit
in either shares or calls, though calls volatility are off the scale.

Still beware of the infamous P/E.
Even with 90% forward earnings growth, its still way too high.

IOMG is a momentum play, not fundamental.

Take care and mail me any more questions you have.

Vinnie
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