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Strategies & Market Trends : The Rational Analyst

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To: Scott H. Davis who wrote (923)	5/13/1998 11:55:00 AM
From: HeyRainier	Read Replies (2) of 1720

[ AXC ] Scott, after watching today's bid move even lower to 2 3/8 (despite the strong size at the bid), I have become even more convinced that my entry into AXC was premature and was done at a technically (and perhaps fundamentally) inappropriate time, based on an intermediate term reading of the company's chart. Most of my gains have come from not only not trading against the trend, but also by holding issues when the momentum has shifted in my favor to provide a healthy wind behind my sails. The wind on AXC's part has stopped blowing in a negative direction, and I believe right now it's in a transition from that to the doldrums stage. Given my other opportunities in the market (QSound is selling at the same price, or rather was), I feel that I can still lose on AXC even if it doesn't move, and that loss comes from the opportunity cost of not taking advantage of other opportunities that I may discover. I think you get the message from this post. AXC will fall back into my watch list. Regards, Rainier

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