My advice FWIW to my friends on the thread . . .
Although I no longer own Iomega, I still watch it like a hawk. Like everything else, it had a bad day today. However, very little volume today. Just bullshit again.
If I were you (and glad for the moment I'm not although that could change with one word: BUYOUT), I'd hold through any further weakness. IMO, the downside is $7 and upside is $16 for the balance of the year.
If you're thinking of buying options on this stock, don't. It is a sucker's bet. And, lastly, if you have more than 10% of your portfolio in this stock, you're overinvested. Sell the excess on any rallies into the $9.50+ range.
Anyway, good luck to you all. Hope we survive tomorrow.
BTW, Motorola will not tank this market. It's poor earnings are already priced in. Only suckers have been buying the stock at these prices (over $55).
The employment report is key. Although it's bullshit (my favorite word for today), market psychology is very nervous.
So, wake up early tomorrow. You'll want to know before the open.
Good luck to us all. |
