VALENCE TECHNOLOGY (VLNC) Message Board

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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: hcirteg who wrote (17280)	12/27/1999 2:56:00 PM
From: P. Ramamoorthy	Read Replies (1) of 27311

hc, re.: "...there will not be a re-tracement...why should there be?..." Agree. Last 2-3 weeks were great for re-tracements. I expected a correction to 13-15 area. It did not quite happen. The power of the current price move is too strong to hope for re-tracements much below 20, imo. We have seen a strong price move due to news leak ($32MM financing deal with Capital G) and everyone was trying to guess the reason for the move. I expect more price jumps due to news leaks (unsupported by fundamentals, of course), as more OEM's and their employees know about finalizing the integration of VLNC batteries into their products. We may see more "rumor"-driven price jumps for a while, until Feb 15 SH meeting. If VLNC delivers products on schedule and generates PO's, it will cause a strong buying interest from the big funds. There is a lot of money out there to find home. Either way, $27 is not too far to test. The market dynamics (especially NASD) seems to be encouraging for this situation to occur. Fundamental analysis alone may not rationalize this price behavior, imo. We have only 3 days to settle trades for 1999 and adjust for 1999 capital gains. Buyers are out-numbering sellers, out there! Good luck and Happy Holidays to all (longs)! Ram

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