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Non-Tech : Any info about Iomega (IOM)?
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To: Jim (Hijacked) who wrote (17483)3/5/1997 2:50:00 PM
From: Jeffery E. Forrest   of 58324
 
Jim, Thanks. Looks like REAL strong support at 13-14. TECHNICALLY IO looks like a BUY right now. Its resting against good support, B-Bands are nice and tight, MACD looks in an upturn, and some good Candlestick action(HAMMERS just below the lower B-Band).
It's made a nice base too.

DISCLAIMER<G>-I haven't been following IOM for a long time, so I have no idea what the Fundamental story is. If IO has gotten it's act together it "COULD" be a good buy right now.
Looks like a decent trade to be made for maybe a couple points no matter what though.

I'm seeing good deals on CD-writes, etc. Personally, I would only be a TRADER for 2-3 pts. If it breaks down through 13-14 IOM is in REALLY big trouble.
I don't see ANY support under there.
It depends on the fundamentals.

It looks to me like my "rebate scenario" came true. Rebates "generally" don't get used. IOM had a return of about 60-70% rebates if I remember correctly!!
FAR more than is the usual case. Most rebate programs only get a 20% or so return rate. Between that and the DEBT problems they had/have to settle, I just don't see the momentum players EVER piling into IO again.

IMHO, there are better places to put money right now.
Good luck
Jeff

PS- I wouldn't be a short either. I just don't see alot of price action, up OR down, like in the "good ole days".
This pup used to be a blast to trade. Looks asleep these days.
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