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

To: Stephen M. DeMoss who wrote (5156)	2/2/1999 2:26:00 PM
From: Ed Perry	Read Replies (2) \| Respond to of 17679

Gaps Need Not Be Filled! Yes, you heard it here on SI! The fact is that gaps happen all the time on inter day charts and even more frequently on half hourly and five minute charts. However, the same glaring gap on a daily chart, if it occurs on a Wednesday will not show up as a discontinuous price movement on a weekly chart. Unless, of course the gap occurs over Friday to Monday. Here, suppose one were then to start the week off on Tuesdays? What would happen now? The fact is that a gap is a function of time frame chosen, market volatility and how the MM keeps his order book. Therefore, I think the old saw about gaps must be filled is at best only a partial truth and perhaps misleading as well. Ed Perry

To: Stephen M. DeMoss who wrote (5156)	2/2/1999 2:29:00 PM
From: Hal Campbell	Read Replies (1) \| Respond to of 17679

Steve, Ed, Mike, Carl, Stan, Hugh ...... any other TA practitioners or parishioners. Aren't microcaps a little anomalous sometimes?

To: Stephen M. DeMoss who wrote (5156)	2/2/1999 8:15:00 PM
From: stan s.	Read Replies (4) \| Respond to of 17679

Hi Stephen, there are instances where gaps are left unfilled but it's not common on a percentage basis. I could not (with a straight face anyway) tell you that if MSFT has a gap at 11 dating back to 1994 that's it's gonna fill it. As in any TA you have to use your head and remain IMHO a bit flexible. The smaller the gap and the farther away...the less psychological impact it has. A large recent gap will exert more pull. I gave a quick look at Dell's very recent chart and the only unfilled recent gap I noticed was on 12/17/98. I'm not counting gaps in the last week or two. Would I worry about it now? No. Am I sure it won't get filled? Nope Here's a short mention of gaps (windows) by the way, why.net As far as the gap that AXC has beginning at 2 5/8. In a stock split of 5-1 the gap from point would simply be at .53 rather than 2.68. Would I sell based on AXC's gap...No...but I might add if it touched 2 5/8 and held...it also might allay my fears if (when) I saw it heading down...as it was this morning. One reason to look at gaps is it often can keep you from panicking. Often when a stock seem to take an irrational downturn...it is simply filling a gap...people love to blame those instances on MM's (Nasdaq's stocks)...sometimes unjustly. We won't even mention AXC's gap from 2.00 on the 22nd. VBG Good luck, Stan