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Non-Tech : Any info about Iomega (IOM)?
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To: Rocky Reid who wrote (52008)4/6/1998 12:24:00 PM
From: Ben Antanaitis  Read Replies (1) of 58324
 
Rocky,

I'm afraid (not really ;-)) ) that I cannot support your main thesis... that this is the end of the world. 6 3/4 does violate the S1 support point, but the S2 support line/point, which is at 6.5 is a longer term and thus stronger support point. In fact it is the overall bearish support line. That is ~4% below 6.75, but is only $.25 for most people who do not think in terms of percentage moves. Today the NASDAQ is taking a pounding, the Technology Index is taking a pounding, the Disk Drive Index is getting beat up, just about every tech stock is down except LU and AMD. And you are crowing about a 1/16 move in an already beatup stock. I expect to see some selling pressure on any general market pullbacks from now until earnings are reported.

Ben A.

PS What chart are you looking at and what analysis technique are you claiming to be using when looking at this chart?
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