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

To: P. Ramamoorthy who wrote (26293)	6/23/2004 12:01:32 PM
From: P. Ramamoorthy	Read Replies (1) \| Respond to of 27311

Impressive volume of shares being traded today! Is it a coincidence that every time CIBC downgrades VLNC, the share volume shoots up? The last CIBC downgrade was in October 2003. The week started at ca. $3.40 and gradually moved up to ca. $4.00. When CIBC downgrade became public on Oct 10, 2003, the stock opened at $3.78 and closed higher at $3.83. The downgrade by CIBC was a good contra-indicator! After the whole weekend to digest CIBC's downgrade, buyers took the price even higher to 4.31. jmo. Ram 15-Oct-03 4.43 4.48 4.10 4.20 447,800 4.20 14-Oct-03 4.39 4.45 4.28 4.43 648,300 4.43 13-Oct-03 4.13 4.31 3.95 4.31 1,104,800 4.31 10-Oct-03 3.78 3.95 3.75 3.83 335,000 3.83 9-Oct-03 4.00 4.11 3.82 3.98 407,100 3.98 8-Oct-03 4.07 4.08 3.86 3.91 357,500 3.91 7-Oct-03 3.83 4.05 3.80 4.04 524,200 4.04 6-Oct-03 3.80 3.90 3.70 3.82 273,300 3.82 3-Oct-03 3.59 3.80 3.59 3.74 233,900 3.74 2-Oct-03 3.50 3.67 3.45 3.56 251,200 3.56 1-Oct-03 3.40 3.48 3.33 3.45 217,800 3.45