Ampex Corp: Digital Storage Message Board

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Technology Stocks : Ampex Corp: Digital Storage

AMPX 9.660

-3.4%

Jan 13 3:59 PM EST

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To: HPilot who wrote (1116)	1/1/1997 10:21:00 PM
From: HPilot	of 3256

I recieved E-mail requesting that I post this from my AOL post. This is an exact copy of that post misspellings and all! Subj: Good news about price drop. Date: 96-12-31 00:07:54 EST From: HPhill Here is some good news. If you have a copy of William J. O'Neil's book "How to Make Money in Stocks" read page 163 and 164. Some edited quotes. 1. "The bottom of the cup should be rounded... rather than a narrow V shape. This characteristic allows the stock time to proceed through a needed natural correction with two or three final little weak spells around the low of the cup." Some of his examples do not have a very rounded bottom but none have a V shape. Other books show cups with a flat bottems. 2. "This scares out or wears out the remaining weak holders and takes other speculators' attention away from the stock. A sounder foundation of strong owners who are much less apt to sell during the next advance is thereby forged." Anyone scared or worn out? Go ahead and sell! 3. "The forming of the handle area is usually more than two or three weeks." We are over a month now but holidays are extending this formation. 4. "Extreme volume dryups will normally occur near the lows in the price pullback phase of the handle." Not sure of this. Is "extreme volume dryups" low volume or high volume which drys up the remaining weak holders? 5. "Cups without handles have a somewhat higher failure rate. ... When they do occur, they should form in the upper half of the overall base structure, as measured from the absolute peak to the low of the cup. This should be above the stocks 200 day average." We are still above the half way mark which is about 8 1/4. We are also above the 200 day moving average! 6. "Handles which drift upwards along their price lows have a higher probability of failing." We are drifting down not up. 7. "A price pull back should be contained withen 10 to 15% of its peak unless it forms a very large cup as in the case of Sea Containers." Ampex has a larger cup than his example of Sea Containers. Also I am not sure that he means the price pull back is for a daily range or from the peak of the handle. Folks this sems to fit Ampex to a T. Well maybe a small t. So if you were feeling a bit weak this may be good news for you. The next day Ampex went up to 9 3/8's. I hope this is confimation of the above! Any comments?

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