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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: FMK who wrote (3356)7/14/1998 12:17:00 AM
From: MGV  Read Replies (1) of 27311
 
With all due respect, the suppositions expressed in your last post are utterly ridiculous. Your principal point, which is that the posts that held up for scrutiny those issues that were raised in a 10K report were the cause for a sell off in VLNC stock, is inane. I really can't believe that you believe that. The 10K raised issues that many investors were surprised to see had not been resolved. By the time the CC ended, sound questions to some fundamental issues remained unanswered.

To attribute the heavy selling on the day of the CC to my posts suggests that the sellers didn't make independent but similar judgements based on the 10K and the CC, after it failed to allay concerns.

The stock began to sell off immediately after the 10K was issued. It was at 6 1/4. By the time I saw the 10K, the price already was at least 5 3/4. It is a given that as more people read the 10K on that Monday afternoon and evening, selling pressure built for the open the next day. The highest the stock has been since that day has been 5 7/16. It traded as low as 4 31/32 today. If my posts were as persuasive in holding the price down for 2 weeks, why haven't yours succeeded in raising the price back up Fred? The question is rhetorical. The answer of course is the overall market isn't being influenced by me and apparently, now, certainly not by you.

Your downplay of the 10K is negligent in the best light. Your scheming is offensive. The upshot is that readers are seeing a side of FMK that may have surprised them.
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