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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: J. M. Burr who wrote (16238)11/17/1999 4:30:00 PM
From: Ray  Read Replies (1) of 27311
 
"Then, as the price inched up it was met by resistance at the 7 15/16 level; every time a breakout seemed imminent some 5-10,000 shares appeared at the ask. If I had to evaluate what is happening it would appear that someone with a large holding is desperate to dump VLNC -- "

I am not much good at this kind of analysis, but I offer a less than desperate reason for unloading some VLNC shares. Perhaps the entity that has been suggested here as fighting the shorts attack wants to unload some of the many shares purchased because (1) it simply has more shares than it wants, or (2) it needs or wants to reload with money to prepare for another possible shorts attack.
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