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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: Herb Blair who wrote (3979)8/27/1998 11:03:00 AM
From: hcirteg  Read Replies (2) of 27311
 
Hi Herbert-

Hey to be Mr. doom and gloom, but the price is about to drop. The bid has fallen to 3 5/16ths indicating we need some buyers...I expect that we will be close to $3 by the end of the day on 750K+ shares.

The good news is that we have some big boys playing with VLNC over the last few days... the bad news is that many of them are sharks and know that a market down turn puts on more margin pressure. They know they can getmore VLNC at lower prices.

Until this risk is gone, there is no basement floor. Looks like there sre some big buyers, but I suspect that, at least for today, they are fighting a losing battle.

I hope that I am wrong.

HC
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