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

To: B. A. Marlow who wrote (4971)	1/30/1999 5:10:00 AM
From: TheBusDriver	Read Replies (2) \| Respond to of 17679

Well I have to say I initially took a position with intent to trade into the on-rush. As I looked into Ampex I began to change my feeling. Traders don't normally care what the story is they just want the ride. Nothing wrong with that, especially if you are long and know you will stay long as it gives you a little bit of excitement in you life.<grin> Had I not changed my mind I would have had stop losses set and let the MM's kick me out after I've had 100% in two days, what do I care? Some people say better profits can be made from a buy and hold strategy. I donno. I can manage to lose money with both methods. So I modified my method to be a combination of both, when I find the right company and I think AXC is one of those companies, I use it. BTW, I didn't actually "find" AXC, Dave did. He has been in for some time. He dragged me into this stock kicking and screaming. But I liked it once I got here! So I will take a position and hold it long for awhile usually for months, not days. Once I have a nice base above my entry point, if the stock pulls back but stops above my entry point(AXC has), then I will use additional funds to trade into and out of the kind of action we have seen in the last few days. I love the heat of the battle but what some armour to protect me, if you see what I mean. So I will be around for awhile, unless we continue downwards. I will exit if this happens and wait for another entry point. This is common sense I think and where buy and hold goes wrong. But I don't think this will happen. Therefore, I will probably be buying on Monday a few shares I can play with while I wait for the appreciation of my initial position. This keeps me happy. I guess I am a gambler at heart, I like the excitement. I know about Ampex's history. I nearly took a job with them when I graduated from college. I worked in professional audio and sound reinforcement for a few years (great way to get laid but you don't make much money!) and worked for some small audio test equipment manufactures in R&D (back in audio's heydays). I am confident that Ampex will come out on top again, and I plan to be there when they do. In the mean time I plan on having some fun too. Hope you can put up with me. Wayne