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

To: Hal Campbell who wrote (5629)	2/18/1999 5:23:00 PM
From: Michael Olds	Respond to of 17679

I just checked to be sure and AXC is definately still in a medium and long term uptrend. It crossed below it's 30 day moving average, but is still above it's 90 and 200 day moving averages, and is above the standard deviation low. I can't help but think that all of this down move has been fun and games at the expense of the less knowledgable and the timid and fearful. It just hasn't had volume umpf. The market for AXC was vulnerable because of the expectations of a poor earnings report, and those that could pushed the down button as often as possible. The final thing they want, a down move to show up in Barrons for the weekend, is almost a sure thing even if Friday is an up day, which I would expect just because nothing goes straight down, either.

To: Hal Campbell who wrote (5629)	2/18/1999 5:43:00 PM
From: Michael Olds	Respond to of 17679

I think there is another consideration here. We are, in the world at this point in time, in a very strange sort of madness. We have zero inflation everywhere except in the stock market. And bad money drives out good. In this madness, and refraining from making any generalizations from the specific case of AXC, it pays no one that this stock goes down. In the short term, for sure, very large investors are looking to buy in at the best possible price and market makers are willing to make short term losses to drive down the price to pick up inventory to sell to the large investors. But the long term best interests of both these groups, as well as the small investor, is in the increase in the price of AXC, and frankly, the sooner the better (I am referring to the greed that is behind the market madness of the day). Paying no attention whatsoever to the possibility of competition, new technical innovations, or any other negative, this situation has tangible potential. That that potential has already been seen is almost a given. That is all that is needed to make it in the best interests of the players to push up the price. Therefore what we have seen in the last few days can only reasonably be described as manipulation within the longer-term upward move. Any panic reaction to this is precisely counter to one's best interests. So say I! MO