Ampex Corp: Digital Storage Message Board

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Technology Stocks : Ampex Corp: Digital Storage

AMPX 7.887

+0.7%

3:59 PM EST

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To: NORMAN DUNNWYN who wrote (1554)	1/31/1997 5:06:00 PM
From: Brian Benton	of 3256

AXC is still currently trading in the rectangle in what I am sure is a consolidation phase. I am showing support at about the 7 5/8 level. In addition, your calculations should include a delta for error correction. Most TA's use such a calculation. If Ampex had actually broken support, you would see the price plummeting and a temporary significant rise in volume. Conversely, Ampex is experiencing mild drops in price and decreasing volume. I have been essentially day trading this issue for the last nine months. Chartwise, it is a reasonably predictable stock and a lot of money can be made doing so. But you have to be willing to pyramid up and down in reasonable amounts, else your profit deteriorates. The indicators and formulas I have developed for stocks such as Ampex are definitely not in a panic mode. In fact, they are in a very secure pyramid down mode. However, I also have a stake in Ampex long term and plan to place all of my trading funds into Ampex once it breaks out of the rectangle and wait for another trading rectangle to form. Brian Benton

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