VALENCE TECHNOLOGY (VLNC) Message Board

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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: FMK who wrote (1407)	11/20/1997 12:47:00 PM
From: shasta23	of 27311

HI FMK! Thought i was clever to buy yesterday at 7 9/16 waiting for a bounce but the stock broke down throught the bottom of the trading range: not good.I can't believe that selling a few shares by Cal Reed has caused the drop of heavy volume..tell me a different story. SOmeone mentioned MM manipulation...i have seen this a couple of times with VLNC before after which i decided that this is a stock you don't use hard sell stops with since they will be taken out by a whipsaw. MAybe this is one of them. ON the other hand the high volume makes you worry.Now we're at old support from JUly 1997 which was also resistance area in feb and april of this year. THat should hold...maybe another buying opportunity here...you'll probably say:"last chanceto load up in this area before we see the 10s". MAybe your right this time... Stefan P.S. Since you "just learned" the reason of TODAY'S weakneZZZZ...any explanation why the stocks vol on the downside already picked up on 11/18 with a couple of bigger blocks(20-25000)passing through while the price slides from almost 8 to 7 in an environment where the market gains a couple of percent... P.P.S DID i mention i'm a little disappointed with the action in regard of all the good news posted here lately?

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