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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: Mark Johnson who wrote (4229)9/17/1998 12:11:00 AM
From: FMK  Read Replies (1) of 27311
 
Mark, the naysayers are still active- here is another view just posted on Yahoo. It seems someone has found a way to interpret insider buying as a negative. Lev's, Carl's and DA's reported recent activity, of course, were cash purchases on the open market.
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<<orcalso Sep 16 1998 11:36PM EDT

Lev put his preexisting shares as collateral. That means he borrowed from somebody. I do not think he is crazy or any bank is crazy to authorize the loan. The olny place he could borrow the money is VLNC. So even though Lev purchased the stock, VLNC didn't get any money, and
the open market had not been affeted. However VLNC's price went up nicely bcause the CEO purchased his own company.I think Lev loves this scheme and use the same tactics repeatedly. The only difference is that last time there was no collateral, and this time his VLNC stock.

What a scam company! Noway you'd better sell all of your stock tomorrow>>
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Why would anyone want to drive the price down? Do you suppose there are some short positions out there?

IMO there were so many posts like this over the last several months, including some that seemed to make more sense, that caught some long term investors off guard. Many do not understand the mechanics of shorting a stock and therefore would find no reason to question the motives of someone posting such negative opinions.
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