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Non-Tech : Any info about Iomega (IOM)? -- Ignore unavailable to you. Want to Upgrade?

To: Naggrachi who wrote (37261)	11/24/1997 4:30:00 PM
From: Gary Wisdom	Read Replies (2) \| Respond to of 58324

Commentary: My take on today's action . . . First of all, I found the perfect trading strategy today. I fell asleep with 3 hours to go in the session. When I fell asleep, Iomega was at $31.50. When I woke up, it was closed at $30.50. Bottom line: 1.1 MM shares changed hands the last 3 hours. At less than 400K per hour, that's not a lot of volume. It looks like the chart shows about 350K of that traded the last 1/2 hour, as the price collapsed. IMO, this is quite ok. At these levels, the buyers are letting the ask come down to them. While my spreadsheet doesn't like red numbers, I "didn't lose any sleep" over today's action. For those of you that seem to like predictions (at least giving your own), I continue to proffer the following to you all: Until earnings, we will see a trading range of $30 - $35, with a small chance we'll see intradays a little above or below that. Keep in mind, every dollar is ~ 3% change. So, for those of you that think we'll see $40 by Christmas, you're looking at a more than 30% increase in the price in a month. Dream on. It ain't going to happen unless Santa himself helps us out. For those day traders, stay away from December calls that are out of the money. They will be very risky as the premiums are very, very high. Anyway, back to dreaming about Maria B.