Ampex Corporation (AEXCA) Message Board

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Technology Stocks : Ampex Corporation (AEXCA)

AMPX 10.80

+6.8%

Nov 24 3:59 PM EST

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To: advinfo who wrote (7140)	4/13/1999 9:03:00 PM
From: Ron Reynolds	Read Replies (1) of 17679

No stock goes straight up... ...without dips, fills, reentrenchment and basing along the way. And, much as I'd love to indulge my fantasies to the contrary, AXC will be no exception. It's heartening, however, to reflect upon the fact that nearly 4 million shares were purchased today...and nearly all of them at levels in excess of $6.00. Few "pure" daytraders should be holding at the moment, particularly inasmuch as the stock backed considerably off its intraday high early on in the going. Today's purchases should provide a partial buffer against shorting and/or panic selling induced by profit taking. I attempted to increase my position by placing a limit order (at approximately 1:30 PM EST)at $6.00. Of course, it went unfilled. But I'm sure that there are many out there like yours truly, who will be only too happy to add to our positions on dips. After all, the buying pressure here isn't being generated by little guys like me. Good luck to all, Ron

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