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

To: Paul Moerman who wrote (45266)	1/24/1998 1:13:00 AM
From: Gary Wisdom	Respond to of 58324

A few comments after reading through the 1000 posts today for those that care: 1. There is only one market maker, though the stock does trade on other exchanges. And, no, she did not buy 45 MM shares. Someone posted that the price would have dropped much more had she done that. Try $5. 2. Regarding the CC, IMO this 34% haircut is 100% KE's fault. He is a pompous ass that doesn't give a shit about the shareholders. As I stated yesterday, that was the worst CC I have ever listened to. As many of you had posted, he could have said the exact same thing and the stock would have been up 30% today. But, he's an asshole and doesn't know what he's doing. That's the problem. 3. Regarding longer term prospects, sure, this stock will be $15 by the end of 1998. However, for those of us on margin, we will have spent all our profit on margin interest by then. Ouch. 4. Regarding the near term movement on the stock, I suggest all long term investors to turn CNBC off for the near term. It will be wild and woolly for a while as the market decides what price this stock should trade at. 5. Regarding who sold: IMO it was 90% or better institutional. Who bought: 70% institutional, 10% the spec covering her shorts, 10% speculators and 10% ordinary folks like you and me. I watched the trading all day (yes, I am a masochist). There were more blocks traded today than in the past 6 months combined. The little guy does not buy 10K shares, nor do they buy 1.9MM shares. 6. Regarding the small range for the day in the price, no, that does not surprise me. The spec did a great job making a market in the stock. Obviously, there was a lot of interest in the stock anywhere between $8 and $9. Institutions don't know everything: they had to figure out what price they could get too. On a day like today, you've got to realize that if an institution wants out, they want out 100%. They are not going to sell 50% and then wait for a better price. Thus, at certain times of the day, there was severe pressure on the price. This is when a particular institution said "Just get me the hell out of this cowpie, I don't care at what price". This is par for the course. And, lastly, I'd like to thank everyone for their spirited posts today. I don't know about you, but I'll probably never forget this date (what was it?). To see the number of posts here today when I'm sure many of you took 6 figure losses was a little comforting. As for me, I only took a 4 figure loss (as I only sold 10% of my holdings for liquidity purposes). The rest is on paper. So, enjoy the Super Bowl this weekend. Enjoy the Iomega commercials. Feel proud since you paid for them (in more ways than you'd like to know). And look for a 11% appreciation on Monday (shit, is that really $1?). Buenas Noches.