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

To: Emmo who wrote (1416)	11/20/1997 4:41:00 PM
From: John Curtis	Respond to of 27311

Emmo: Economic problems in S. Korea causing the rolloff? Hmmmmmm, an interesting idea, but I don't buy it. Why? Well, mostly because I gotta feel that most of us are into VLNC because of the N.I. plant, and it's production potential. S. Korea is just the "icing on the cake." imo, of course, and I could be wrong. However, when attempting to garner cheapie shares, all excuses are valid excuses and if, as a MM, ya want to control outcomes......then you enhance your position accordingly. Assuming there isn't something fundamentally out of whack at VLNC itself, then this drop, on no news and in the face of a strong market, is particularly smelly. That's ok, it just allows me to continue to add to my holdings. Maybe the fact that it's happening right now implies something major may be about to be made known, hence the "big boys/girls" are manueuvering for position? Once again, this hypothesis operations under the assumption that everything is on track at VLNC. The bottom line, it's still holding above its $7 floor, and I don't really expect it to break down any further from here.......but just in case this is the opening shot in a protracted MM manipulative gambit, I've submitted another buy order, looking for more in the high $6 range..........I don't expect to see it filled.....but hey! Manna from heaven...... John~

To: Emmo who wrote (1416)	11/20/1997 4:43:00 PM
From: Paul Dubsky	Read Replies (1) \| Respond to of 27311

Given that the Hanail JV is not the driver at this point in the game (production and developments at Northern Ireland are), I'd suspect the same as you that these are excellent buying opportunities. Actual production in Korea is months away, if not years (although the company estimates 1st Qtr 98), but there are other Intl areas that are attractive for a JV type deal. These are still in the game. The fundamentals are not lost. Certainly, if Cal Reed knew that something big was coming down that would rock the boat, he would either a) sell all of his holdings, or b) not sell at all in fear of another lawsuit. Also, and what I see as very, very interesting, is the price action today. It goes down to $7 first thing - bamm, we're there in no time. But, once there, it doesn't budge, up or down, for the rest of the day. IMO, since there are options trading in VLNC now, and November options expire tomorrow, someone wanted the price to be suspiciously close to the $7 mark. They achieved their goal! Remember to keep the faith.