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

To: Rich Wolf who wrote (14343)	9/7/1999 12:24:00 PM
From: kolo55	Read Replies (2) \| Respond to of 27311

Selling coalition seems to be falling apart. This morning, for the third consecutive day, the sellers didn't show up as they typically did before. Today, one market maker who has been handling orders for the coalition, showed up knocked the price down briefly to 4 5/8, and then backed off a bit, and put an 8000 share block up on the ask. Then they looked around, and saw they were ALONE, and pulled the block. Currently the bid/ask is up to 4 13/16 and 4 7/8 on light volume. The "rush for the exits" comment is interesting, because in order to have a "rush", you'd have high volume. This same poster was trying to convince us several days ago that the volume is very light! Looks like the bears are scrambling around looking for anything to say to keep attention off the pending short squeeze. I still think the selling coalition may try one last push down, but there are a lot of bulls lining to take the shares these guys will toss out if there is a last ditch effort. The selling coalition needs to get the price down below 4.35 by Friday to keep the Death Spiral theory alive... and this is looking less and less likely... the trading pattern has changed. Paul