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Non-Tech : Iomega Thread without Iomega
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To: BubbaFred who wrote (8022)3/6/1999 9:31:00 PM
From: BubbaFred   of 10072
 
As my previous post, place stop loss at 5 7/8, which broke down last week and is an extremely negative indicator. Present trading range is a tight 5 1/2 to 6. The biggest and most appropriate "IF" question is when IOM price drops below $5. That's margin call time which will accelerate the decline to the 3 area, which is previous support. In strong market days, the drop will not be immediate. IOM longs can cover the margin calls with other holdings. When general market becomes weak, they will let go of this donkey dog. Breakdown of the 5 support level means it will either drift down to 3 or crash down to 2. Possible pop to the 6 level if IOM announces stock buyback plan, then it will drift back down to 3.
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