Ampex Corporation (AEXCA) Message Board

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Technology Stocks : Ampex Corporation (AEXCA)

AMPX 11.00

+8.4%

Jan 16 9:30 AM EST

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To: Alan Cassaro who wrote (4628)	1/22/1999 11:05:00 AM
From: Forrest Coile	Read Replies (1) of 17679

Al, that very thing happened to me when I owned Jabil Circuit (NYSE:JBL) when it was listed on NASDAQ (JBIL). The price at the time was 33 (pre-split price). I had a stop loss in at 28. Earnings that beat street estimates were announced after the closing bell. The stock opened the next day at 27, stayed there for about 10 minutes and then promptly started trading around 40 and never looked back. Within a two months the stock was over 120 then split. I am quite positive that the MMs just pulled the first few trades among themselves for the sole reason of harvesting all of the stop losses since there was no reason that the stock should have ever dropped that low under these circumstances. Needless to say, I don't use stop losses any more. Still holding lots of AXC since the pinks. Forrest

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