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Non-Tech : Iomega Thread without Iomega

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To: Sonny who wrote (7950)	3/4/1999 11:27:00 PM
From: HardMoney	Read Replies (1) of 10072

This, in my humble opinion, is what has happened to the stock of IOM: Some big players, probably the old-time shorts, Rocker, Berman, have been trading the HELL out of this stock, LONG and SHORT. They covered their intial Jan 98 short at the 3-5 dollar level in september and went long. They probably sold in the 9-10 range right before earnings. They then went short after the lower guidance on the CC at the $8 level.With a 35% margin requirement they only needed to invest $2.80 per share If the shorted at $8 then they would double their money by buying back at around the 5-5.25 level. On top of that they sell all those May 5 and 7.5 puts cause they know when they cover and lgo log agin they will insure that the price be above that level either at expiry or sufficiently before so as to buy them back for nothing. You gotta admit, the people most likely controlling IOM's stock price inbetween earnings announcements is a group or groups of big traders and their just about getting ready to cover and go long. It's a great trading stock. Frank

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