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

To: FMK who wrote (18907)	3/31/2000 9:06:00 AM
From: John Curtis	Respond to of 27311

Fred, Rich, Zeev, et.al.: First, WELCOME BACK Fred....and doesn't the past week or so bring back some fond memories? Sheesh. Anyway, Sky's Yahoo commentary points to things proving out positively for VLNC, particularly in the last portion of the year. Meanwhile we've now got to get through an almost unprecedented amount of market chaos. Uhhhh....unprecedented since about.....what....1987 or so? Not that the market's now in massive decline, as one should think of the past weeks mess in the context of how far it's roared ahead this year. Still, it be a train-wreck out there from my point of view. Soooo, all things consider my impression is VLNC's past couple of week decline is probably a function of four things: 1. General market turmoil. 2. Coordinated attack many times mentioned already. 3. Margin related pressures due to items 1 & 2. 4. "Window dressing" chaos. Be the above as it may, since the general market data indicates margin accounts at record levels, should this market continue to the downside for a sufficient amount of time....well....margin pressures will be the added layers on the 'ol downhill snowball. But this is conjecture, as todays the last day of the month, and quarter. We have to wait until early next week to see if, as one market writer puts it, the market has hit an inflection point and is now heading lower. And as for VLNC, I'd like to think we've seen its bottom, particularly if/when the market comes to accept Sky's data. It'd also be nice to have the market gods grant me a wish by having some positive analytical reports from some houses pop up right about now, eh? Even so, the next couple of days are key, me thinks, so let's see how they unfold. John~

To: FMK who wrote (18907)	3/31/2000 9:10:00 AM
From: Zeev Hed	Read Replies (1) \| Respond to of 27311

Fred, I turned "bullish" on VLNC the moment the floorless was removed (even partial removal was enough for me), but did not jump in until the technical picture improved last November on a breakout of $7. The technical picture right now has deteriorated, so I am taking a more cautious approach knowing fully that I may miss few bucks by selling at the top of the range, just to see the stock take out the overhead resistance. As for my medium term view on VLNC it is still a potential rise to around $65 by elections, except that now, I have to see at least two "breakouts", the $24 to $26.5 area and the $34 to $36 area. In the meanwhile I'll be satisfied "playing the channel". Good luck Zeev