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

To: Robert Cohen who wrote (14986)	10/4/1999 3:04:00 PM
From: kolo55	Read Replies (2) \| Respond to of 27311

Quick summary of last week's trading. Last Monday, and Tuesday, we had a big seller pound the bid underneath Castle Creek,s big 10,000 shares ask. Lot of buying support at 4 13/16 and 4 3/4. By Wednesday, this seller was done. On Thursday, the trading mostly occurred underneath CC's big ask. By Friday though, CC was alone on the ask, exposed. CC (and cohorts) sold over 40,000 shares on Friday at 4 11/16 and 4 3/4. The day ended with CC sitting on the ask with 10,000 shares. But this morning, CC didn't show up. They sold more shares Friday than they can afford to. They only earned about 10,000 shares a day on this sell-off. After the price rebounded above 5, they showed up on the ask with 10,000 at 5 1/16. They didn't get hit, then put 6400 shares on the ask at 5. They got pounded, so pulled the ask up to 5 1/6, which where they are sitting as I write this. They have 8700 on the ask at 5 1/16. They are trying to hold the closing bid below 5, to lower the conversion price one more time (there are two 5.00 closing bids in the six lowest days right now). But CC is often alone on the ask anymore. The question is "How long will they be able to hold the buyers at bay?" Paul