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

To: Scott H. Davis who wrote (4446)	1/12/1999 10:48:00 PM
From: Ed Perry	Read Replies (2) \| Respond to of 17679

<<< AXC is in an overbought state >>> Short term perhaps, and a consolidation / pullback to this wave from 1.31 to 2.50 is overdue but not yet evident. On the other hand, from a longer term point of view, AXC the stock may be correcting from an oversold condition to a more reasonable price valuation. What that valuation will be is unknown at this time. If one's approach is from a fundamental point of view, then it is hard to accept that a stock may rise despite a fall in reported earnings. To say the same thing, if you are long the stock, and it is behaving well then stay with it. When signs of distribution begin to set in, then a new evaluation is called for. To see what looks like distribution for AXC the stock, see the long range chart for the daily activity in the 1996 time frame. While the fortunes of AXC the stock, and Ampex, the corporation are closely coupled, over time, the expectations accorded each will diverge and converge by what seems their own internal rhetoric. Ed Perry