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

To: John Curtis who wrote (16573)	12/2/1999 11:59:00 AM
From: Rich Wolf	Read Replies (1) \| Respond to of 27311

John, the primary overhead resistance today has been provided by Castle Creek selling against their warrants, through REDI and SLKC. By our count they've already hedged the remaining B shares. There are also over 600,000 shares in play for December call options, and expiration is two weeks from tomorrow. I would doubt that much of this is naked, however I would note that as we remain above 10, ALL of these are in the money... There may be need for some to acquire shares to deliver against these. I predict a major blowout move to the upside, within a week. This requires new money to flow into the stock, but I believe the confirmation of this order will provide the interest. The new money will blow through CC's warrant sales, and then only short-term traders remain as sellers. Panic short covering will ensue when we hit the low teens. The analysts will hear many forward-looking statements from the company, and projections of revenue detail beyond what is heard on the conference calls. I look for growing institutional interest. Rich