VALENCE TECHNOLOGY (VLNC) Message Board

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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: Larry Brubaker who wrote (12917)	7/8/1999 1:44:00 AM
From: Larry Brubaker	Read Replies (1) of 27311

Confirmed, Wall Street Journal article of Friday, July 2 in "Small Stock Focus" Column, entitled Who's In, Who's Out? Stock Rebalancing Act By Russell 2000 Takes Some Issues on Wild Ride. Some points made in the article (I'm not going to retype the whole thing). The index was reconstituted on June 30 (Wednesday). (In looking back at the VLNC chart, Wednesday--not Thursday as mentioned in the previous post--was the day we saw the large buying before the close). Twenty-three stocks being added to the index gained more than 20% last Wednesday. Quote from a senior research analyst at Russell, "Everyone is very aware of the reconstitution and they understand that index managers need to have their new portfolios in place by July 1." (My comment, apparently "everyone" does not include Fred). Conclusion: VLNC has already seen its Russell 2000 effect. The shorts have nothing more to worry about relating to this issue. However, anyone following Fred's advice to "frontrun" the institutional buying will actually be following the institutions.

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