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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: Sir Auric Goldfinger who wrote (20595)7/22/2000 8:41:22 AM
From: Zeev Hed  Read Replies (1) of 27311
 
Auric, this one no longer has a floorless hanging over its head. What is bothering this stock, IMHO, is that for six months now we have been waiting for the second shoe to drop (a very big PO) and so far that has not happened. That, of course, means that the window to be in products sold during the Christmas season is probably close. Yet, any big PO here in the next few weeks could put fire under the stock. The big one day wonder of late June has not been confirmed either by volume nor price, so far, thus additional weakness and retest of the major support around the $14/$15 area is quite possible, but short term, not much more than that IMHO.

Good luck out there.

Zeev
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