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Technology Stocks : Ampex Corp: Digital Storage
AMPX 11.10-3.9%Feb 11 3:59 PM EST
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To: Rafique Sheikh who wrote (207)7/24/1996 10:00:00 AM
From: Ben Woo   of 3256
 
No Rafique, I only have AXC plus other tech stocks. I don't have VMRX. The 1/2 point movement per day that you described for VMRX at 3 - 4 range is a smaller shift percentagewise than AXC's 2 to 3 bucks per day in the 6 - 8 range. I think that you can make the loss back in either stock by the method that you described. Buying VMRX at 3 and then selling at 4 or buying AXC at 5 1/2 and selling at 7 1/2 as it is at this time. The percentage is close to the same.

Instead of putting all of your money in one or the other for the play in the stock, I think that it would be better to split the money and play both stocks the same way. That way you have a better chance of catching one that will move as you expect. Unless you have the patience to stay in the one stock and wait for it to move as you "patterned" it's movement.

You get twice the action from playing two stocks as compared to following one for the trading actions as you described. I thought I was going to do the same thing with AXC as it moved up and down. I guess I got greedy and did not sell soon enough. Now I am stuck in the stock as it keeps going down, down, and still down. I bought more AXC to average my cost everytime that I thought it was near the bottom so that it would not take as much to recover my cost when the stock move back up. I guess I should have been shorting the stock instead.
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