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Technology Stocks : Aeroflex (ARX)
ARX 13.80+9.4%3:59 PM EST
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To: Louis Cornell who wrote (223)9/13/1997 8:53:00 PM
From: Kerry Lee   of 586
 
<<From my experience, these formations at least double from their breakout point and often triple. My guess is a triple from here. Of course you're talking to a shareholder, so add appropriate salt.>>

If I hear you correctly, a double from the breakout point translates to approx $19 and a triple $28-29??? While I don't have the TA background to dispute your observations, the caveat I have is that this is a NYSE stock, not a NASDAQ stock and therefore not subject to the wild volatility created by Market Makers. An interesting comparison of another unknown undervalued stock is a company called AXSYS Technologies ( AXYS ) which was recommended to me back in May when it was trading at $13. The daily trading volume was approx 5,000 shares and there were humungous spreads, which scared me away. I dismissed it only to discover that 3-4 months later, it was trading in the low-mid 30's. Sometimes all you need is to get some Wall Street awareness to move the stock when you have good fundamentals.

My gut feel tells me that ARX is under accumulation by Smart Money as it seems to have drifted down on low volume days in the weeks after last quarter's earnings, but higher than normal volume recently coupled with the break above $9 suggests someone knows good things are happening behind the scenes. Does anyone have a date for Q1 '98 results/conference call???
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