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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: John Curtis who wrote (21266)8/25/2000 3:34:58 PM
From: The Vet  Read Replies (1) of 27311
 
John, the shorts do seem to be a little more reticent or else they are getting low on funds recently. We haven't seen the relentless pounding of the sell side with ever lower prices that we saw a couple of months ago. They are limiting their attacks now to a few minutes before the close and it only involves a small number of shares, just enough to paint the tape.

Conversely the longs are also just holding pat and accumulating the few gifts that the shorts drop each day at the close. If a new buyer with deep pockets enters the fray then we will probably see some action. We will know that a serious buyer has entered when we see a close on the high rather than the present pattern which is a close near the low for the day.
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