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: Ed Perry who wrote (4414)	1/11/1999 1:05:00 AM
From: Carl R.	Read Replies (2) \| Respond to of 17679

I just had the privilege of sitting on hold to Schwab for about half an hour, during which I got to listen to the Friday market report. The big move by AXC made the report. Sadly Ampex did not earn any adjectives in the report like "Technology giant Ampex corporation led the gainers....". I guess we need some more Micronet press releases. <VBG> Carl

To: Ed Perry who wrote (4414)	1/11/1999 12:24:00 PM
From: Scott Pedigo	Read Replies (2) \| Respond to of 17679

Am I right in thinking that we are seeing GREED and FEAR in action today? In the morning the price quickly climbed from the previous close of 1-7/8 to a high of 2-3/8. The volume up to this point was between 200,000 and 300,000. I don't have any cool tools, I was just clicking away on the Datek real-time quote and this is what I recollect. At the point where the high was reached, the buying tapered off, and after awhile the price began to slide back down, eventually to less than the opening price, pausing at several points along the way, where a relatively large amount of stock changed hands. As of lunchtime, the bid price is 1-11/16 and the volume 800,000+. So my theory is that in the hour or two after the open, GREED dominated, with potential sellers holding onto their stock, waiting to see how high the price might go. Then, when the price reversed, FEAR took over, namely fear of losing the accumulated profit, and as the price slowly dropped, more and more people took their profits, pushing the price still lower. I'm thinking that the sellers taking these profits are those who accumulated the stock when it was at 1 or less. My questions to you: (1) At what point would you expect people to start shorting the stock and do you think that shorting has played any role in the price action today? (2) Do you think any momentum players have been involved, buying during the price increase of the last couple of trading days, who may now be jumping back out?