David: Read Herb Greenberg's column in theStreet.com before you commit any more money to this stock and before you decide to hold at any price above 7.75 to 8 IMO. It's time to admit that Herb was right about this company. In my case, for instance, on November 18, 1997, I sold my November 20 call position for a 10 bagger gain. On January 22, the entire profit vanished. I'm lucky that I didn't lose any of my initial investment, but the opportunity cost is staggering (think about Dell, Merck, American Airlines, from the spring of 1997 to now).
Ya'll sort of remind me of the died in the wool Confederates down here who are still fighting the Civil War. IOM is a 10 ton boulder now and ya'll will have a helluva time pushing it up the hill. On the other hand, there are stocks which have based and offer significant upside potential with a much more favorable risk/reward ratio. They're not that hard to find.
If you guys are still determined to try and make money on Iomega, think about trading the short side when it gets to the high 7's, 8's and certainly anything above that.
I never got too much into the nuts and bolts of the zip drive, etc., but as basically a computer lightweight, I never understood why I needed a zip drive and was never persuaded that I needed one by any of the advertising. I wonder if this is the problem they're having, what with all the cheap computers being sold. Who knows? |
