Ampex Corporation (AEXCA) Message Board

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Technology Stocks : Ampex Corporation (AEXCA)

AMPX 10.82

+1.5%

3:59 PM EST

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To: Andrew who wrote (7025)	4/12/1999 3:06:00 PM
From: Sam Citron	Read Replies (3) of 17679

...we seem to have hit resistance. Does this mean we're headed back down to retrace after the buyers are satiated? That's the $64,000 question, Andrew. The answer depends on how many disheartened longs who bought earlier this year in the $5 price region only to see their shares subsequently decline some 40% want to get out with their egos intact at a break even basis. This is part of the psychological basis of resistance levels. Then there are the TA types who just trade these bounces, some of whom may go short at such a juncture. But it all comes down to the eternal war between the bulls and the bears. If we can stay in $5+ territory for a few days it would be very encouraging because the shares then become "marginable", vastly improving their marketability. Today's close should be quite interesting. Sam

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