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

To: Michael Olds who wrote (5504)	2/15/1999 7:39:00 PM
From: Hal Campbell	Read Replies (2) \| Respond to of 17679

<<I am still trying to puzzle out the supposed psychology for the need to close a gap>> Just a flyer from someone ignorant of TA. TA is drawn from common behavior in stock price action, right? The majority of stocks trade in ranges - whatever the time period examined ( with an average upward bias or we would probably not be in the market at all).That is to say, they go up and they go down. So whether " gaps" in price "need to be filled" or not - they usually get filled eventually. There is a very high correlation between fish living in water and eventually dying. Doesn't mean one causes the other. Of course, as some have said on this board,many many dramatic growth stocks - though they surely filled many gaps - they also surely left many far behind ........da poor gaps left with that empty feeling forever. ( Not to mention many issues that have been acquired at sudden and much higher prices ). Also many microcaps ...with their far higher betas ....seem immune to that phenomenon IF business or prospects suddenly take a turn for the better. But if a stock has surged and nothing comes to follow up the enthusiasm - I would think any stock would drift down to the lower ranges of support again ...over time. Goes without saying that with AXC we hope and expect that will not happen ...or if it does it won't happen for long. My personal sense of TA now- used to ignorantly laugh at it - is that once you have decided to buy it is a great tool to help tell you when. Likewise when you have decided to sell. I need to learn much more and appreciate the education here. But if your investment is intended to be long term ....and IF you are correct about the reasons for that time frame ..it is wise to ignore the many buy and sell signals along the way. ( IF you are correct - always some danger in ignoring the market's wisdom ,,,,as I sure learned in AXC's long decline). And , to add my voice ...WHERE ARE YA ED? lol. Probably wisely cooling your heels til the 10K gives us all something to chew on.