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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: Robert Cohen who wrote (15309)10/20/1999 7:24:00 PM
From: kolo55  Read Replies (3) of 27311
 
Whatever happened to CC?

Well, we haven't seen as much selling from the selling coalition for the last ten trading days... it appears that they have been stripped of as many shares as they want to give up chasing a lower conversion price. The numbers don't support such a dubious enterprise anyway... they simply aren't earning sufficient shares to keep up a selling attack on their own. It been almost nine weeks now since the negotiations with Valence fell through, and the price first fell below 5. In that time, they sold a ton of shares, probably well over a million shares, and have earned almost no incremental shares since the end of August.

I think the death spiral is dead... now we need to deal with the selling from the interim financier. It is strange that the selling coalition isn't piggybacking on the selling by JPMS. But they see the buying support at slightly above 4 1/2, they pounded their heads against that level several times before. And the JPMS seller has pretty well signalled that they won't sell lower at this time.

Although this is getting pretty tiresome, we are moving into the end game. I expect CC will finish converting within the next two weeks.

This is my analysis and opinion, and can be ignored by anyone as they see fit.

Paul
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