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 Non-Tech | Trading IOMEGA based on technical analysis


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To: Bill Hernandez who wrote (697)6/9/1997 1:33:00 PM
From: E. Graphs
   of 1511
 
Bill,

I must have been replying to Herb at the same time you posted your message to me. I guess if you read my message to Herb you'll understand. If I have misunderstood you then I'm sorry, and I'm sure I'll know about it very soon!

E

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To: E. Graphs who wrote (699)6/9/1997 2:07:00 PM
From: Bill Hernandez
   of 1511
 
Regarding your message to Herb: I will admit that my statements are self contradicting. I am content to see the price of the stock slowly float upwards. I am long and do not trade on rumors. I'm in because of fundamentals. I *will* celebrate when I pocket the gains. If I'm celebrating while the stock is going up, I'm not paying attention to a small rule - sell into euphoria.

Whether anyone reads my posts, yours or anyone elses is immaterial. What is important about this board is that it offers thought provoking analysis, theories, facts and figures. And some of it is accurate and some of it is trash. I've yet to find any one participant to have it all right, but some appear to be more right than others from time to time which is why I rarely skip yours and Herb's posts.

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To: E. Graphs who wrote (698)6/9/1997 4:43:00 PM
From: D.J.Smyth
   of 1511
 
Buying at close was stronger than nominal appearance as it included some large blocks at 59K, 40K, 13K among others sending price up briefly to $21 5/8. Shorts, sells anticipated strong buying and dumped a few thousand shares, MMs dropped bid to $20 3/8 for these few trades, but trade amounts did not compare to large blocks at ask.

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To: D.J.Smyth who wrote (701)6/9/1997 4:58:00 PM
From: E. Graphs
   of 1511
 
Darrell,

Would you say that the specialist is more responsive to the selling than the buying? And if so, more than on the other stocks you watch?

E

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To: D.J.Smyth who wrote (701)6/9/1997 5:01:00 PM
From: Jon Tara
   of 1511
 
Darrell, I don't see any trades any where near 21 5/8. Did you mean 20 5/8?

At least I don't see them on Lombard. I will check on my regular quote service when I get home this evening.

I suspect you just saw a bad print. Like I said before, you can't get excited over every 2000-point (or even 1-point) spike, as it's almost always somebody's finger slipping on the keys, unless you see multiple trades.

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To: E. Graphs who wrote (702)6/9/1997 5:38:00 PM
From: E. Graphs
   of 1511
 
Darrell,

Please don't answer that question. Thanks.

E

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To: Chirag Asaravala who wrote (642)6/9/1997 6:51:00 PM
From: fut_trade
   of 1511
 
I don't check my messages often. What facts do I need to get straight ?

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To: E. Graphs who wrote (702)6/10/1997 4:54:00 PM
From: D.J.Smyth
   of 1511
 
E., it does appear that selling patterns are breaking apart which may be good news. Today was a crappy day for a lot of techs, the selling came in a huge wave from 1pm to 3pm ET, but IOM actually moved up 1/8 to 20 3/4 but fell slightly prior to close. The specialists in IOM have been more responsive to selling, from what I see, giving IOM a loading factor. The NSDQ moved IOM on the upside more rapidly, NYSE is more cautious to the downside (i.e., IOM running up in spurts simply appears to be a catchup feature). NYSE also counts shares (buys/sells) differently than does the NSDQ. IOM can have 10 buys to 2 sells and move little to the upside. However, 10 sells to a buys moves the stock down more proportionately. Nevertheless, the total of buys and sells is reconciled eventually, thus giving IOM the rapid up movement. It's posible that the individuals that tried to time IOM this last time may miss the next upturn. The specialists and MMs often change their trading patterns on breakouts - just when you think you got them figured...stock has the appearance of MMs accumulating IOM.

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To: D.J.Smyth who wrote (706)6/10/1997 5:34:00 PM
From: RAY WACLAWSKY
   of 1511
 
Today, we had a higher high and a higher low........although I was forced to sell 1k @ 20.5 because of s3, they took it when the bid/ask was 20 3/8- 1/2.
This baby is poised to pop in a positive environment.
Your read on the tape is right on.
All the best,

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To: RAY WACLAWSKY who wrote (707)6/11/1997 11:51:00 AM
From: Jon Tara
   of 1511
 
Listless trading today.

IOM traders seem to have fallen alseep at the wheel.

I just hope if they talk in their sleep, they don't say "sell". :)

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