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Non-Tech : Iomega Thread without Iomega

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To: James Strauss who wrote (5570)1/8/1999 8:41:00 AM
From: David Colvin  Read Replies (1) of 10072
 
A Short Squeeze???

God, I hope not! I was fortunate enough to sell a large part of my position near the May 1996 highs, but wasn't prepared for the precipitous fall back to $13 (back then) in August of 1996.

It seems to me that the the "artificial" inflation of the price to a close of $54 on May 20 or 21 1996 was, indeed, caused by a short squeeze, and once the shorts had all covered there were no "real" buyers left to continue buying at those levels. I told a lot of people I knew back then that the stock was way ahead of itself, but wasn't going to argue with the "market"....literally creating new millionaires every day. The whole thing fell apart like a house of cards after the peak of that momentous rise.

I, for one, want to see a fairly slow, somewhat understandable, rise in price based on earnings or at least the expectation of earnings that will truly support the stock price.

Dave
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