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

To: Sig who wrote (12445)	6/28/1999 5:30:00 PM
From: William Epstein	Read Replies (1) \| Respond to of 27311

Sig; Someone shorted today. The stock started dropping after 12 PM. Most of the volume was done by then. About 270,000 shares. We should see the stock drop again tomorrow. I hope I'm wrong and they decide to short again tomorrow and move the stock up a point. Bill

To: Sig who wrote (12445)	6/28/1999 8:10:00 PM
From: mooter775	Read Replies (1) \| Respond to of 27311

Most of the volume actually came prior to the conference call, I believe, and the average price paid was $ 7.40 or so. I personally think there was a combination of end of quarter portfolio adjustments, some irrational expectations of some major announcement either with the 10-k or on the conference call, and additional short selling. I remain quite confident about the continuing progress the company is making, despite some of the negative interpretations some had of the conference call. I guess we all see what we want to see in one of these things. I spoke to several investors and brokers who were quite pleased with the call, which I was able to hear conferenced in with someone on "the list". If you are long, my advice is to remain patient a bit longer. If you are not in the stock, then taking a position depends on your willingness to accept risk prior to a contract announcement. If you want to see the train running at full speed, then by all means wait until a p.o. is announced with a major customer - that will be pretty soon in my opinion.