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Technology Stocks : Ampex Corp: Digital Storage
AMPX 13.59+6.8%Nov 10 3:59 PM EST
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To: Wayne Umfleet who wrote (2925)5/29/1997 5:06:00 PM
From: Stephen M. DeMoss   of 3256
 
Wayne, Your a funny guy! My strategy has not been knocked down. This is the fun thing for me personally. I sold a boatload of June calls. I bought them at 51/2 to 53/4. I am rooting for Ampex to have a bullish move the next 3 weeks. The worst case is that Ampex will be at 8+ and I make 2 points on all my shares. I guess the worst case is that the stock is at 25. But in a sense I am monitoring the pulse of AXC each month. If the stock is trading at 71/4 June 20, I will either sell the 10's or a combination of 71/2's, 10's and leave some open. We have lived through allot the past year and I don't think it is over. We may see 10 in the next 3 months but revisit 7. When the stock moved to 11ish a few months ago, I NEVER thought I would be buying again at 51/2. Its touch and go selling calls but I say to sell them out of the money and trade some in between. This stock in a sense is a dream stock (especailly when it has a bullish tone). It's safe to buy at 5ish or 6ish and it has options and it has some decent volume (where you can buy on the bid) and it has history AND a great futuristic story. I totally respect the buy and hold guy in this stock. I hope you can see my point of view too<G>. Steve D.
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