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

To: shasta23 who wrote (1649)	12/10/1997 3:00:00 PM
From: John Curtis	Read Replies (2) \| Respond to of 27311

Stefan: Here I am, driving on the highway and my pager goes off telling me my further "giggles" order for $4 5/8 got executed!! My immediate reaction was/is "what the hell?" So I pull over, find a payphone and start checking. I hate payphone access. "Capitulation sell-off" is a good way to view this, me thinks, barring any major bad news in the offing. At this point, since 11/1/97 we've slid from roughly $9 to its current trading level of $4 3/4 x $4 7/8(it doesn't look to be capable of recovering above $5 at this point, but we've still an hour to go), quite a slide. So it's not outside the realm of possibility that there's something foul afoot and a third shoe is about to drop. Then again, the tech sector overall is getting hammered because of the Asia mess, and since VLNC was already sliding it looks like it has gotten caught in the downdraft(always the possibility that Koreans, etc., who may have invested in VLNC are having to pull capital whereever they can get it in light of their economic problems--but that's reaching for straws). At this point I recommend to those people on the sidelines looking for an entry point to stay on the sidelines. Clearly VLNC is unstable as hell right now, so the best bet is to wait until there's some sort of clear signal that a bottom has been reached. Right now the slide, on the heavy volume, indicates bottom ain't been reached. Since we've broken down AGAIN thru $5, the next floor is $4. A valuation I would have thought absurd just a couple of short weeks ago, but now it looks like VLNC just might break it. Who can tell. Call me crazy, but I've put in another "giggles" order at the 52 week bottom, ie around $3.90. Good thing it's my speculative monies.....there's still time this year to use my currently small loss to offset a marvelous '97. John~