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

To: Hal Campbell who wrote (3155)	8/5/1998 12:37:00 AM
From: Ed Perry	Read Replies (2) \| Respond to of 17679

<< stocks like AXC may well be shelters of sort >> Yes, I am carefully watching AXC's response to this bear swing (watching it like a hawk as George Soros would say - yes I am in deep now and a little moreso today). So far I am very pleased. Light volume and no selloff hint. If AXC continues to give evidence of being disassociated from the general market then we have a good investment. The hype and momentum will follow later. Put it another way, if there was a lot of flutter in the price activity then one could be sure that more seasoning would be needed. I really like the declining volume over the last 8 months. Take a look at the one year chart and note how each selling climax is met with diminishing volume at each nadir (see bottoms at Dec end Jan end June early and July end). My interpretation on this is that each slide down required less purchasing to give evidence of stopping the slide. In sum, easy floating shares are being taken off the market. But, also note that there is no evidence of any upside lasting follow through. This should come later. It may be in two weeks two months or two seasons. It really does not matter. The important thing is that the shares are being "inventoried" in patient hands. Ampex, the company will engineer some kind of business turnaround, then AXC the stock will have it's turn in anticipating the future. If the company turnaround (through the acquisition route) takes longer, then the "base building" period will take longer too. If this happens, then there will be even less easy floating shares and then we could have the makings of a real good run. And so good bases, quietly done over a period of time, make for good runs While the company and it's securities are coupled, I feel there is a sense in which Ampex and it's public float are in different businesses. The skills and insights needed for successful evaluation of each are somewhat different. Only having taken a quick look at INLD, what I see as wrong with is is the current level of activity. It's got advertisement written all over it. Those spikes in Sept and currently (with the high volume in between) is not a picture of accumulation. I think this one will drop for quite some time before it can go anywhere - up. I for one would stay far away from the big cap stuff. I think that we will see a coliseum of activity there as the funds and whatever proceed to decimate each other. Of course all the attention will be focused on the big cap activity for the near term. However, the party there may be over. Perhaps soon after, some money will come poking around the shadowed stocks and the inefficiently priced. It won't take very much for AXC. Don't forget that a lot of shares may be quietly disappearing. A good story thrown down from one of the Castle windows and who knows? Ed Perry

To: Hal Campbell who wrote (3155)	8/5/1998 6:04:00 AM
From: flickerful	Respond to of 17679

hal............great post. <eom>