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

To: BBG who wrote (45350)	1/24/1998 1:49:00 PM
From: Les White	Read Replies (1) \| Respond to of 58324

CMCI had identical hit 3 weeks ago, look now. JD, I hope we'll all be telling the same war story by Xmas. CMCI lost a big customer 3 weeks ago (Micron), management issued earnings warnings, shareholders panniced and bailed. Stock went from 11 close to 7 open and immediately hit a floor of 6. Big players bought everything in site at 6 including my shorts. Within 2 days it was clear that these powerfull players were not going to let the stock fall below 6. I covered at a small loss. CMCI rose on short covering back to 8 and has been around there ever since. I think (hope) we'll be seeing a similar pattern with IOM. There were some large players buying at 8 and numerous other gorillas hitting the ask all the way up to 9. Unless KE's plan shows signs of unravelling they should remain a clear and present backstop to the valuation of the company. They say the time to buy is when there is blood in the street. I saw the blood flowing like rivers on friday. I'd be worried if I had shorted IOM on friday. I think one of the beneficial outcomes of the devaluation is the reduction in analyst earnings expectations. They should be more easily achieved and hopefully beaten thus generating another round of over-enthusiasm for the stock. I agree with your outlook on click, JD. It propably will take a lot longer to come to life than we think. I'm used to that. I build large custom homes and hardly anything goes as quickly as planned and always slower than the customer expects. One thing I've learned is paramount. It is always better to be late than to be wrong. The customer will bitch about the time but he'll get over it and will love you if the finished product is excellent. If it's on time but not quite up to par he will sit in that damn thing and curse you for the rest of his life no matter how fast you built it. Wall street seems to act a lot like some of my spoiled bitchy customers. No patience for tardiness. Get it right and you'll get paid, but get it wrong and they'll sue your @ss into the ground. I think there is a lot KE would like to talk about with regard to the future of the products we'd all like to hear about but I can understand his reluctance to set specific dates and raise expectations. We all just saw what happens when expectations aren't met. Right now WS's expectations are a little sketchy for IOM. They will be easier to exceed this year. My .02, Les