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Non-Tech : Any info about Iomega (IOM)?
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To: Michael Coley who wrote (51236)3/25/1998 8:17:00 PM
From: Michael Coley  Read Replies (1) of 58324
 
RE: My thoughts on the day and the future of IOM.

I was quite surprised to see the strength shown in IOM. A couple noteworthy things to point out:

1) Iomega only dropped about 5%.
2) Volume was only about 40% higher than average.

I've been saying for about a week (mostly on Yahoo) that the downside in IOM is limited. A short there said he was looking for a point. I said that he would only get a point with bad news, and that I couldn't imagine anything else that could happen. Well, it did... BUT we only took a 3/8 point hit.

The stock has been shifting lately, and I think that shift is almost complete. Momentum investors rode it up through November and started bailing and riding it down from there. Now I think the stock is priced right for the value investors to start climbing on board. The momentum investors are leaving and the value investors are jumping on board. The value investors will probably look for 40-100% gains, and once it starts moving the momentum investors will be back, too.

Technically, I think things will look very good for IOM in the next few months. Fundamentally, I think Iomega is still good. Sales still appear to be very strong.

NOTE: This is complete speculation, and is only my opinion. Nobody knows the future. I've been wrong before.

I'll be back to read and post more later. We have a missionary giving a presentation at church tonight!

- Michael Coley
- wwol.com
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