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Technology Stocks : VALENCE TECHNOLOGY (VLNC) -- Ignore unavailable to you. Want to Upgrade?

To: Dennis V. who wrote (12158)	6/15/1999 9:29:00 PM
From: MGV	Read Replies (2) \| Respond to of 27311

The serious flaw in your comparison is that VLNC has not performed at all while other stocks were rising substantially. Now as they fall, it falls with them. It did not participate in the up market. It does participate in the down. There is something other than mere market risk at work w/ VLNC. In fact, its performance is deteriorating even as you would have yourselves hope to believe the company is on the verge of product confirmation in the battery market. The conclusion simply does not follow. If ever VLNC should be showing signs of outperforming, it should now, IF the opinions stated by you were true. Underperformance: techstocks.com techstocks.com techstocks.com techstocks.com techstocks.com techstocks.com techstocks.com techstocks.com

To: Dennis V. who wrote (12158)	6/15/1999 11:11:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 27311

Dennis, I think that VLNC might face a double "whamo", one hit is the market general weakness, and the second is the absence of a "material" PO. We are also approaching a critical price, the ceiling of the convertible. I have a "gut feeling that CC hedged at least part of the position at prices 20% to 30% above the ceiling, and when the stock got near the ceiling, they started covering (creating the support there), if it is obvious to them that a PO is not near, they may not be so generous, and they should know better than we do if such a PO is forthcoming in the near future, much more than we do. Thus holding the low 6' would indicate they still have faith, but if the ceiling is breached, we might have a sharp fall to maybe even below $5, but at least the very low $5', IMHO. Zeev