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

To: ken carney who wrote (12619)	7/1/1999 8:53:00 PM
From: mooter775	Read Replies (1) \| Respond to of 27311

Don't think he snapped up any, but don't really know. Think he was the one who purchased the 400 m shares or so, and I would suspect, stands ready to purchase any additional shares from the company when/if needed. Perhaps he was the one that cleaned up the seller with the block purchase after the close. Now if this institutional investor is a large investor, that means that $ 3 mm or so won't be the full amount purchased - so there is really no need to rush in and bid the price up. But it could well mean a pretty solid floor under the price. By the way, Knight has consistently been a market maker which appears to have been placing orders for short sellers. Today he wasn't in the box on the offer, but rather as a modest bidder. Who knows? Maybe a tad of short covering. I hope not - would rather wait for a solid contract announcement and then see a squeeze.