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Technology Stocks : Ampex Corporation (AEXCA)
AMPX 11.32+4.7%Nov 28 9:30 AM EST
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To: RidgeRunner who wrote (9834)7/6/1999 2:05:00 PM
From: Michael Olds  Read Replies (1) of 17679
 
The thing that makes a market RR is that there are always people with opposing views.

I'll add a little to that. In my last TA post I put resistance somewhere around 5 to 5.25. This is because there were two buying surges at this point. When you have a buying surge that occured in the past, it always will have been composed at least in part of people who had no idea what they were doing. If they didn't do any research in between, they saw the stock go down. Seeing it go down, they doubt what is for them justifiably doubtful. So doubting, they get out of their mistake at breakeven. Thus resistance against a further up move until these shares are cleared out.

These people are likely to have seen the rise only by checking their stocks on the weekend.

Additionally, as a rule, large buyers do not buy Monday mornings.
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