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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: Matthew Leo who wrote (2172)2/16/1998 2:20:00 AM
From: Larry Brubaker  Read Replies (1) of 27311
 
Matthew: The point I was trying to make regarding TA and CR's selling is that looking at the weakness of the stock one week ago purely from a TA standpoint would have been a pretty strong argument to sell.

I was getting more and more uncomfortable with the stock weakness until FMK pointed out the magnitude of CR's selling. Then the light bulb went on; CR's selling, at least in part, was probably to raise funds to excercise options before they expired. The magnitude of his selling was certainly enough, given the low volume, to explain much of the weakness of the last several weeks.

So, while TA was telling us a week ago that this was a sick stock, what was going on behind the weakness may well have been quite a bullish indication. I know I felt considerably better at the end of last weekend than I did at the beginning. In this case, TA may have been sending a false signal a week ago.
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