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

To: Jill who wrote (5883)	2/27/1999 9:22:00 PM
From: Michael Olds	Read Replies (2) \| Respond to of 17679

Some might find this Rex Takasugi – TD Profile analysis (from MetaStock) of Ampex for 2/26/99 interesting: Friday's volume was 65% below average showing a consolidating pattern. Bollinger Bands were only 40% wider than normal, reflecting the steep decline in volatility of the last weeks. The short term trend is neutral The intermediate term trend is bearish The long term is bullish Ampex is currently 100.9% above its 200-period moving average and is in a downward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near term. Volume indicators reflect moderate flows of volume out of AXC which is mildly bearish. The trend forecasting oscillators are currently bearish. xxxxxxxxxxxx I believe the “Moderate flows of volume out of AXC” will have come from recent investors hoping for an unrealistically large and fast run up during the first jump. (I don't really know how you can have flows of volume out of a stock. I presume this really means out of individual investors hands into market makers hands – gauged by selling into a declining market.) I believe I see where the strength of this short (he says intermediate) term trend is coming from: The next predictable event for AXC is the posting of the 10Q for Q4. We already know what it is going to say, but in that it is not very positive, it may have a depressing influence. The predictable event following that is the release of earnings for Q1, which, although they might be slightly improved, will not be impressive. With these two events hanging over the picture, there is only the hope of bright surprises in the 10Q or in the possible “Letter from the CEO”, to inspire new buyers at this point. I do not think it is realistic to hope for another acquisition. On the positive side, since I have been able to penetrate this far, it is sure that those who have been in control of the price during this down trend (Mighty and Powerful As They Are) have already discounted these events in the price. That would leave only the positive surprises.