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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: MGV who wrote ()7/5/1999 7:34:00 PM
From: Zeev Hed  Read Replies (2) of 27311
 
MGV, you are absolutely right, but the question should thus be, if that is the case, why is the stock holding so well? There might be something that we do not know that provide support to this stock everytime we go under $7/share, and that for quite sometime. Of course, that support may evaporate, but on the other hand it might be an indication that something is brewing, I for one, would rather pay more and be assured that something is brewing than sit on dead money for a year or like some people her for five years or so.

If you feel that the lack of progress warrants shorting this stock I would remind you my mantra, when the FA (lousy as you said) and the TA (not great but far from lousy) do not jive, believe the TA. The mantra applies to both positive FA/negative TA and negative FA/positive TA.

Zeev
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