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Technology Stocks : Ampex Corp: Digital Storage
AMPX 11.17-6.6%Jan 23 3:59 PM EST
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To: Carson O. Ray, Jr. who wrote (2367)3/19/1997 4:26:00 PM
From: K.Martin   of 3256
 
I have just finished looking at the AXC chart from 1/01/97 to today. What a dismal picture it paints. I think everybody needs to step back and consider where we have been and possibly where we are going. From 2 to 15 back to 6 « up to 12 back to today's price of 5 5/8. I believe that people with infinitely more knowledge in AXC have been selling. This has not been a volatile stock since 1/01/97. It has lost ground each and every day not closing up in any 3 consecutive days. A volatile stock is down and up. AXC is just down. I as you await the next announced contract, however as each day passes I really wonder if there will ever be another contract. As time goes on I must begin to think that we have all bought into a 300 Lb. pink elephant. Many people point to Bramson's 400,000 share purchase as a positive, at the time it appeared to that way. But now I am beginning to suspect that it may have been a smoke screen. People point to the fact that he bought them with borrowed money, but what was he really risking, AXC as I understand it will buy them back. The bottom line as I see it is that we have a stock in a continual downtrend with no bottom in sight. The company has no response either positive or negative. I hope that we don't find out in 6 months when the stock price is at $2 that Bramson and all his buddies sold out at prices between 6 and 10. As P.T. Barnum once said there is a sucker born every day, I hope we don't look back in a year and realize that we were the suckers. Thanks for letting me blow off a little steam.
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