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

To: Jimi Plym who wrote (4420)	1/11/1999 5:35:00 PM
From: Scott Pedigo	Read Replies (1) \| Respond to of 17679

Supposedly, lunchtime is when the MM and specialists like to jerk people around, move the price up/down to try to hit the stops, etc. I suppose this is because the lower volume during this time makes it possible. So the specialist could have started the ball rolling by dropping the price and thereby precipating some self-reinforced selling by panicky/greedy investors. But he certainly couldn't have simply dropped it from above 2 down to 1-5/8 in one fell swoop. There were a half million shares which traded at prices inbetween on the way down, quite heavily around 2 if I can judge. Something is definitely going on, but I can't say what. Maybe some news has leaked; or maybe some big investor just decided that AXC had a high reward/risk at the previous low low price of $1 and made a big order which his broker has been filling in bits and pieces driving the price up; or maybe the people who unloaded AXC for a tax loss are now getting back in; or maybe some managers are buying it in anticipation of it later being reincluded in an index which would force it to be bought by the corresponding index funds; or maybe the market likes the few news items about MicroNet; or maybe since there is so much money chasing an insufficient amount of "Internet" stock the speculation about AXC buying a web-hosting company has made some managers buy AXC now in the hope that it will eventually become an "Internet" play with the resulting rocket ride. And whatever starts it, once the stock starts moving, you get all the other bandwagon effects, like the MM or others shorting and/or covering, daytraders going along for the ride, etc. But unless and until some news actually does come out, I can only speculate. Which is what I was doing, hoping for somebody with either more information or experience to jump in and comment.