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Technology Stocks : Cognitronics (AMEX: CGN)
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To: Richard L. who wrote (15)5/26/1997 12:51:00 PM
From: Neil Kalton   of 142
 
Richard,
I sold 1/3 of my position at 8 1/2 which is probably a good indicator that the stock is going to go astronomically higher. I don't really do much TA but from a strict valuation standpoint I do think the stock has room to run (I am hopeful of $14-16 by years end). Also, the volume, though it is picking up, is still relatively light on an historical basis.

In terms of a downturn, the stock has risen 150% in the past 5 months so some profit taking would not be surprising at some point. However, I do find it comforting that recently whenever the stock has dipped 8% or so it has quickly bounced back and risen to new highs. This indicates to me that there are alot of buyers who are anxious to purchase on any sizeable dips.

-nk
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