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Technology Stocks : Ampex Corporation (AEXCA) -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (9195)	6/14/1999 10:14:00 PM
From: Ed Perry	Read Replies (1) \| Respond to of 17679

QUESTION... LIST... CLOSING ..----.. Friday June 18 ......7 PM EDT for the most recent compilation, see: Message 10101234

To: Zeev Hed who wrote (9195)	6/14/1999 10:14:00 PM
From: Carl R.	Read Replies (1) \| Respond to of 17679

Zeev I agree. As for the DOT, I see it stabilizing at least for awhile in the 450 range, but the additional 10% fall may well be enough to tip the trend down even for the semis. I am still long VECO, KLAC, and NVLS at this point, but my eggplants are neutral at this point, and I am cautiously considering taking some profits. As for AXC, I see strong support at 3. The other internuts I looked at kept sliding all the way to the close. AXC fell hard to 3, but held very firmly at that level despite heavy volume. It did fall below 3 briefly, but the final trading of the day was between 3 and 3 1/16 and involved heavy volume. On its last trip down below 3 it did dip momentarily to 2.75 or so (where I was a buyer), but selling quickly dried up and the stock moved quickly back to above 3.5. This time around the general market sentiment is much more pessimistic as regards the "nuts", but I have a hard time imagining many sellers under 3. An additional 10-12% fall would put it at about 2.6875, which I see as an absolute bottom. In my opinion, this stock is oversold, and if it does dip under 3 that dip will be brief, though I can't tell you whether the cause will be heavy buying or a lack of selling. I lean towards the latter. Carl