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

To: lws who wrote (12905)	7/7/1999 6:35:00 PM
From: Rich Wolf	Read Replies (1) \| Respond to of 27311

Welcome back, lws! A minor correction: the first questioner, and the one with the most and most wide-ranging questions, was Harold Hertzfeld from Prudential. You're right in that there was little follow-up on other questions. My WAG is that the lurking brokers know the story, and don't want to tip their hands. It is known that currently most institutional holdings are small, placeholders really, waiting for news of the first 'retail' PO and consequent revenues. They know, as one questioner acknowledged, that Valence cannot say anything about the POs at this time; no doubt they are attempting to piece together the timing as we are. A sign of increasing interest in the stock may well show itself the next few weeks as the bid is supported, in spite of the 'dreaded' date of July 27. If we see strong support for the stock, even on light volume days when the 'professional' (and unprofessional, heh!) shorts attempt to push (and talk!) the stock down, that to me is an indication that someone is accumulating the stock in a low-key manner. We've already seen signs of that, as well as signs of short-covering. But I don't think it'll be 'Katy bar the door' on the upside until we hear the word 'PO,' and meanwhile we'll probably tread water in the current range. Disclaimer: I disbelieve Castle Creek is shorting from this point forward. They risk being out of the stock when the news is announced. There will be no 'floorless' conversion exercise. There, I've said it.