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Fundamental outlook :
IOMEGA : Will soon become a HAS been stock. Doesnt hold much Future.
Expect SYQT to go UP. Technology is changing the next tech to be
introduced shortly is that of a Hard disk on the size of a Credit Card.
You carry the card , No need to carry the computer. Just punch in your
Card (size hard disk) into computers (available in every Hotel rooms
etc) and start working.
Backup for large businesses : Somewhat the same technology and more.
I have not seen the chart but I see it sliding down ...............Will
see the chart later to see if I am wrong.....
Rajesh
Guy Gordon wrote:
> Jim,
> IOM hit 26 today. I'm looking to buy Jan Calls on Friday.
> Do you think the 25 or 30 Calls would be better. I'm leaning towards
> the $30 out of money calls.
>
> I had IOM in one channel from 3/25/97 thru 10/2/97. The bottom of
> that channel coincided with the 50-day MA.
>
> On 10/2/97 the 50-day MA bent and IOM started moving in a new, less
> steep channel. I draw the top of the new channel through the highs of
>
> 9/19/97 and 12/1/97. I don't have a firm bottom to the new channel,
> but I think it's around 25.3. The problem with drawing the bottom is
>
> that I'm not sure the opening price on 10/28/97 has much validity.
> For now, I'm drawing the bottom as a line thru the low of 10/7/97 and
> parallel to the 50-day MA.
>
> I don't think these correspond to the channels you draw. care to
> comment?
>
> On Tue, 9 Dec 1997 14:40:59 -0500, Jim Greening wrote:
> > I was busy this morning so left a market order to close my IOM
> >position at the open. IOM had bounced off the top of its
> Intermediate
> >Term Up Trend Channel (ITUTC) early last week and broke out of the
> >bottom of its Short Term Up trend Channel Thursday. If finally
> closed
> >below my stop yesterday. I had a profit of over 60% since taking the
>
> >position in April plus several covered call profits along the way.
> > I still like IOM and will be looking to re-enter on a bounce off
>
> >the bottom of the ITUTC or a break out of the new Short Term Down
> >Trend Channel.
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