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Technology Stocks : Telxon (TLXN)
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To: Ken Robbins who wrote (8)12/26/1996 10:17:00 PM
From: Jatin Kadakia   of 378
 
Ken,

I will be selling half of my holdings in TLXN for tax loss purposes as it has been trading in this range for a long time. I bought first half at around 17 and the latter half at around 10-1/2. So selling my first half would give me good chunk to offset gains from my other trades. However I intend to hold the remeining half for a while as my target is 20 dollars. Also if after 31 days, the price is same or lower, I will restore to my original position as I will keep the cash around just for that. I think Telxon can reach 20 in the next year barring any market crash. I look at the history of trading range to justify my target price in addition to recent positive developments in the company. I have listed yearly high and lows since 1990 which I used for my analysis.

1990 20-1/4 6-3/8
1991 15-1/2 4-3/4
1992 28-1/8 13-3/8
1993 28-1/4 11-1/4
1994 12-3/4 6-1/2
1995 18-1/4 10
1996 28-1/2 9-3/4

With the exception of low for 1993 and high for 1994, in all other cases the high for the year has been at least 2 times the low of previous year. Based on that and assuming low for 1996 will not be lower than 9-3/4, I expect high for 1997 to better 19-1/2. Again this is just an analysis of historical data and can not be considered rocket science to guarntee future results to ones expectations.

Since I do not know of your financials or other positions in your portfolio, it is hard for me tell you to sell or keep. It is the most trying time of the year especially for individual investors as they must decide on these situations without a lot of time at hand. Hope whatever decision you take will be of benefit.

Have a great new year!

Jatin
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