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Technology Stocks : Vitesse Semiconductor

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To: Martin A. Haas, Jr. who wrote (687)	7/3/1997 2:13:00 PM
From: V Lakshman	of 4710

I sold the trading portion of my VTSS holding today at 37.5. I bought it at 34 a few days ago, mistiming it considerably (it went down to 32.5). Going by my history of picking short-term swings, the stock will probably go to 39 or so. I think the pop is simply a carry over of y'day's communications stocks popup. Ascend went up by 5 yesterday. If VTSS beats estimates by a penny, giving it a forward multiple of 33, I would expect the price to be around 38.5 . Not much reward in carrying short-term funds till next week. Of course I'm holding on to my long-term holding (bought at 9, not gonna pay taxes on that baby). lakshman

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