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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: Merg who wrote (2143)	12/15/1998 9:23:00 PM
From: steve brooks	Respond to of 56535

Merg IOM Re: insider buying verified as a post on newstraders.com 12/14. SEC Form 4 filed showing 90,000 shares purchased. Director John Sheehan purchased 80,000 @ 6.94 Nov-3 and VP James Taylor purchased 10,000 @ 5.50 on Nov-2. Today's announcements 20,000,000 Zips shipped, 125,000,000 disks shipped (this is higher profit margin sale), also now shipping ZIP 250. As for tommorow: Not sure. Most likely down a bit 1/8. I think the shorts will put pressure on the stock to keep it below 7.5 until after options expire 12/18. As of this morning the CBOE showed 13,103 open 7.5 calls and 19,041 open 10 calls. On the other hand, if big money starts to buy (volume above 7-10 mill) the shorts would most likely cover adding good fuel to fire IMO. Hang on for the ride. I almost dumped when IOM hit 6.5 on Monday now I'm glad I didn't. Good Luck to us All