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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: Zeev Hed who wrote (9838)3/26/1999 12:01:00 AM
From: dstand  Read Replies (1) of 27311
 
Why would buyers pay 7.87 a share today when two days ago they could have had the stock for $6.00? There is no news. The sector is not up. Nothing is in place that was not in place at the beginning of the week when it looked like we might get into the fives again. A very safe and logical prediction at that time would have been $5.75-$6.25 by the end of the week with no news.

Are the shorts all of a sudden worried about something? If they were they would have been all over the thread with their poison. Do we have any more reason to believe Lev was going to pull a rabbit out of his hat by the end of March as he hinted at in the last CC? Personally, I was beginning to think we were reading something into what he said.

My optimistic guess is that something is about to happen and there are some fortunate people who know about it. I'm not saying there are any leaks from the company. More likely it is coming from a company that is about to do big business with Valence.

Tomorrow, we may see some profit taking in the morning and then the rest of the day should tell us a lot. If we lose some ground tomorrow the runup was probably just a fluke and Larry's theory may have been correct. If we put on another half point plus tomorrow I think it is a pretty safe bet there is news around the corner. We all know what that will do to the stock. Today's price will be history. A lot of people will be watching every tick tomorrow and the trigger fingers are going to be itching.

I had a ball today. The backsliding may begin again but I'm a happy man for now.
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