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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: Paul Dubsky who wrote (1281)11/6/1997 11:30:00 PM
From: wm sharp  Read Replies (1) of 27311
 
Paul - I use bid size, ask size, and their ratio to try to gauge pressure in either direction. Yesterday, the ratio remained fairly balanced until the ask hit 9. Every time that occured, the ask size ballooned by 5X. My interpretation is there was a standing sell order(s) at that level. This is not unusual for our stock. People have been trading it back and forth on a $1 spread for ages (as the rest of us INVESTORS remain confident in management, study the fundamentals, and await news. Silly us. <g>) My personal view is anyone still trading this stock is playing with fire.
On today's closing shenanigans, the end motivations are tough to read.
Someone may be trying to take advantage of the low volume late in the day to get a brief buying opportunity. Who knows...
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