Iomega Corporation

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Thursday, August 10, 2006

No Panicking.

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Remember traders, no panicking.
its just a short term down towards 644/5 level where we did mention earlier a mini support.

For Eur/Usd, one of the european banks mentioned to us of a buying interest, so we shall see a kick on USD.
Its just a short term reaction as we feel.

The data gave mixed signal, Trade Balance was stronger, however Intial Jobless claims gave signs for Dollar to be weak.
Thats why we didnt see a such a big movement, if Trade balance was weaker, we could have seen eur/usd already above 1.29 and gold moving up.

For few hours things will stablize a little.

Keep eyes at 644 level, if that it crossed 638/640 level is touched again.

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