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

To: Ed Perry who wrote (5157)	2/2/1999 11:39:00 PM
From: HPilot	Respond to of 17679

I'm with you Ed. One of the worst trading systems that comes with Tradestation is the GAP system. Shorts on a large gap up and buys on a large gap down.

To: Ed Perry who wrote (5157)	2/3/1999 12:59:00 AM
From: stan s.	Respond to of 17679

>>>Gaps Need Not Be Filled! Yes, you heard it here on SI!<<< Okay I heard it... The fact is that on a daily chart... as I stated "It's relatively rare when it doesn't occur." One might have legitimate disagreements as to the cause but not the usual outcome. The potentially insidious part of gaps is not the "old saw" about their seeming need to be filled...but rather the inherent euphoria that takes place when a stock gaps up...and the tendency to believe that a stock is off and running...when in fact stocks can, do and usually.....look back...ie they will usually return to their origin point of the frenzy..even if only briefly. The positive thing about a gap is it's possible insight as to what may come and the hope of a higher level of support...NOT in the new price per se. That price is all too transitory.. One need only look at the "glory days" of AXC, early '96 through early '97 to note all windows (gaps) were closed...generally fairly quickly (I believe 3 were 4 days or less, the other 2 were 1 to 3 months). AXC's history could serve to illustrate this...but admittedly it's unfair to chose any single example to make this point. >>>>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?<<<< So? You won't see gaps on monthly, quarterly or yearly charts either. The inference is what?...that unless a somewhat predictable occurrence is common to all charts within all time frames...it is without merit? Not to me. For those traits that are applicable to a variety of time frames...so much the better...but simply because they are not does not render them useless. Stan