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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: Robert Cohen who wrote (12557)6/30/1999 2:06:00 PM
From: FMK  Read Replies (1) of 27311
 
A tactic that seems to have been effective is to short he stock after a positive conference call, and to make the situation defy logic of those who believe if the news is good, share price should go up.

When it doesn't, as has happened repeatedly, many holders become frustrated and sell because the result of good news was a lower share price. If they can get it down a little lower, maybe they can create some margin calls and some will be forced to sell. The shorts would be delighted if they could only create a repeat of what happened before Christmas.

I remember speaking with one large holder who sold 80,000 shares that day to "stay ahead" of a margin call. With Valence now producing 4x4 inch batteries for Hanil and continuing to ramp up production of next generation product, It's understandable that the shorts are making maximum effort to hold share price down. There should be some interesting times ahead when a large contract is announced and shorts scramble to cover.
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