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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: Zeev Hed who wrote (6246)12/22/1998 11:47:00 PM
From: FMK  Read Replies (1) of 27311
 
Zeev, I would suggest that it is more of the short-termers getting back in because it was oversold on panic and misinterpretation. I remain convinced that the overall status of Valence is better than when it recently traded in double digits and steady progress has been made since. IMO all the reasons for buying in the 9's and 10's are intact, except that it is now necessary to pay only 2/3 of that. I would expect most long termers didn't sell except for margin pressure.

I spoke with a long term investor, a professional with a large Valence position together with IBM and some other notable tech stocks in his portfolio. He mentioned yesterday that he had carefully studied the Castle Creek refinancing and sees it as a statement of their confidence that the Valence will do well.

By now there should have been ample time for laptop OEM's to have tested. January should be a very good month.

Let's make the best of our Holidays.

Regards, FMK
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