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Microcap & Penny Stocks : Ames Department Stores (AMES) -- Ignore unavailable to you. Want to Upgrade?

To: Gary105 who wrote (1687)	8/28/2000 2:55:32 AM
From: Arthur Tang	Read Replies (1) \| Respond to of 1911

You can certainly draw two parallel lines and get the current resistance and support levels. Institutions are selling to possibly shift their money around for window dressing end of this quarter. The fundamentals of overall retail have not changed. Greenspan has not lowered overnight discount rate. Basing around the current resistance and support lines and expect a breakout will need Herculean efforts of fabulous good news of profits or business management directional change. I don't see them coming. What I see is some market makers couldn't buy back their shorts and some had too much inventory(the wrong customers got squeezed). So, I expect the worst and predict an entry point that would be much lower than the current low. Really, it is the only choice available to me. However, only time will tell. Whether I will add to my portfolio or not, depends on my analysis of AMES fundamentals at that time.