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

To: NicholasA who wrote (1414)	12/9/1997 9:24:00 PM
From: Michael Brian	Respond to of 17679

Regarding insider purchases/sales, why is it that only Ed Bramson buys or sells? Why aren't other directors/officers involved? Don't they trust Ed's judgement? Or are they kept in the dark? Or is it that they know better?

To: NicholasA who wrote (1414)	12/10/1997 1:10:00 AM
From: Ed Perry	Read Replies (1) \| Respond to of 17679

A check of the intraday chart shows that most of the volume was concentrated at mid day at the 2 1/2 level. The up move occurring late in the day did so on relatively lighter volume. This shows late day ease of movement to the upside so we should get good carry through on Wed morning. As far as Elliot Wave is concerned, my first take on reading my new AutoWave from Prognosis is that we have begun the 4th of a 5 wave down movement. Since the 3rd wave was sooo protracted (about 6 down to 2 1/4), by the rules, the 4th correcting wave could be generous. Also, by the rules, the 5th continuing down wave should be mild. This would probably be the point at which those waiting for confirmation would consider initiating new longs. Wave analysis is supposed to primarily reflect investor psychology. I would guess that the completion of this 5 price movement would take place in the 2 1/2 to 5 range. What I find interesting however, is a comment in the readings that a 5 wave movement is almost always followed by a violent correction of usually 3 waves. Here a 5 and 3 correcting comprise an 8 wave complete movement (I believe that, in the vernacular, this is considered a wave of one degree). Moot point however. Three is not required. It could be 3 and 3 again. Corrections are hard to read in Elliot's schema; and so are trading range consolidations. Here Elliot can give you a tool to link up price movements before a price level with what may make sense after. I would further guess that the indicated waves 4 and 5 will be "nice" but no cigar. Say what is called a technical rally from an oversold condition. What will be interesting hovever, will be the possible 3 wave correcting movement to follow. This would be where a larger investing groups begins to take notice. After all, by it's culture, AXC is not a one product $2.25 micro cap. Along with this software, I'm reading three books on Elliot. The best of the bunch seems to be R. Beckman's "Powertiming". It is currently available at close out prices from TradersPress.com. (url may be out of date). The other two are "Elliot Wave Principle" (Frost & Prechter) and "Mastering Elliot Wave" (Neely). They are all good, but I like the Beckman perspective and presentation.