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

To: HPilot who wrote (1312)	11/24/1997 11:42:00 PM
From: Ed Perry	Respond to of 17679

Today we had a somewhat long legged doji after 5 small black candles down. What is significant is that AXC has not shown evidence of a doji for at least the last 5 months! I think that this raises the significance of the doji at this juncture. I would expect a rally to 3.13, through this resistance and then pausing at the resistance at 4. Any longs with stop losses below today's trading low will provide bait for specialist gunning. Nervous shorts should begin to cover at about now. Thus we may have a few more near doji's before a rally begins. Fundamentals mean very little at this point (they do ultimately drive everything - of course they do) but not now. Take your information from the price activity alone. Base your decisions on market interplay of buyers and sellers.