Ampex Corporation (AEXCA) Message Board

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Technology Stocks : Ampex Corporation (AEXCA)

AMPX 7.887

+0.7%

Dec 31 3:59 PM EST

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To: Scott Pedigo who wrote (4390)	1/8/1999 11:11:00 PM
From: Carl R.	Read Replies (1) of 17679

We encountered the easy resistance at 1.5 and blew right through it before it could slow us down much. From a technical standpoint (to superstitious traders )it is a negative that the stock left a gap between 1 5/16 and 1 3/8, but it is really a very small gap, so perhaps the gap fairy won't notice it and make us go back and fill it. My forecast for next week is this: We have a tremendous amount of strength and momentum right now (up 76% in 2 days). So long as the volume remains strong we will make further progress into the resistance area. I believe that 2.25 or a shade more is achievable Monday if the volume continues. Partly it depends on how many long time holders notice the move and decide to bail or have GTC orders in. I expect that we will run out of steam before 2.625 unless a major announcement comes out, and I would expect us to spend more than a few days in the area between here and 2.625 before moving on. Sorry you sold some shares. I hope you regret it later. <VBG> Since my basis is 1 1/16 I am in the black here, and can wait this out awhile. Good luck, Carl

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