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

To: SR/WA who wrote (38444)	12/3/1997 11:12:00 PM
From: FuzzFace	Respond to of 58324

Make it Humperdinks at 6-flags, Arlington and you can count me in. (eom)

To: SR/WA who wrote (38444)	12/3/1997 11:31:00 PM
From: Ben Antanaitis	Read Replies (1) \| Respond to of 58324

Ken, Based on today's price action and plotted on the 12/01/97 EZ-PnF chart at: pipeline.com You would see a downtrend column of 3 ('O')s to the right of the last column shown. it would start in the 32.27 box and end in the 31.022 box. This is bullish support point S1 on the chart. Since this support line held up once before to downtrend pressures, it appears likely that today's bounce off of the S1 point with upward momentum would continue allowing the price to rise back to the Resistance point at 33 9/16. This point R1 needs to be exceeded on good volume to break thru that bullish resistance line. The next bullish resistance point is at 34 15/16. 36 3/8 and 37 13/16 are the next resistance points before a gap to 40 15/16. At each resistance point there may be a delay for accumulation or distribution of IOM stock. The price may bounce between points as one resistance line becomes a support line once it has been penetrated, but that's all part of market dynamics. Now 40 15/16 is a way off, almost 30% away, and like the Heisenberg Uncertainty Principle, the further away they get, the harder it is to call a point with precision. But this point, around 40.5 -> 41 represents the upper boundary of the overall bullish trading channel IOM is currently in. Barring some major positive change in IOMs status (blowout earnings, product announcement, court case victory, etc. that would power IOM higher), each time IOM's price has touched this resistance line there has been a significant pull back. Since March '97, IOM has touched, crossed, or approached by one box, this resistance line 6 times. IOM had pull backs of 14%,8%,14%,8%,20%,and 10% or an average pull back of 12.3%... So, if you want to buy and hold IOM, and believe that there is still upside potential for IOM at the time IOM gets to 40, just fasten your seat belt and ride it out. Hell, it's done it 6 time this year already and IOM is still going up. BUT... if you 'trade' the stock... and you believe the chart, you might take profits and buy in again at the lower level. This is, of course, just an analysis of the chart patterns, and not investment advice. You have to do your own due diligence and I'm sure you will hear no end of other free advice offered on this thread :-) Ben A.