Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: RidgeRunner who wrote (9834)	7/6/1999 2:05:00 PM
From: Michael Olds	Read Replies (1) \| Respond to of 17679

The thing that makes a market RR is that there are always people with opposing views. I'll add a little to that. In my last TA post I put resistance somewhere around 5 to 5.25. This is because there were two buying surges at this point. When you have a buying surge that occured in the past, it always will have been composed at least in part of people who had no idea what they were doing. If they didn't do any research in between, they saw the stock go down. Seeing it go down, they doubt what is for them justifiably doubtful. So doubting, they get out of their mistake at breakeven. Thus resistance against a further up move until these shares are cleared out. These people are likely to have seen the rise only by checking their stocks on the weekend. Additionally, as a rule, large buyers do not buy Monday mornings.