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

To: jean1057 who wrote (2054)	2/7/1998 6:07:00 PM
From: FMK	Read Replies (4) \| Respond to of 27311

When I saw the large volume at Friday's close, I inferred that it could be the end of someone's selling agenda, at least for the week. There is no way of telling for several days, until the actual trades are registered, but I was told that those who registered should be about finished. Here is a list of shares registered: Cal Reed- 1/9 50k,1/12 50k, 1/16 50k, 1/21 50k, 1/27 100k, 2/2 38,500. Ralph Brodd, retired marketing VP, registered to sell 24k sh on 2/2. Bill Masuda, Resigned technical VP who is replaced by Dr.Kalnoki Kis registered to sell 10k on 1/20 and 10k on 1/29. The list was read to me by a broker who, like market makers and traders etc, has access to the information. When selling agenda's are known, it is standard practice for the pro's to back away with their buy orders to let the price fall in order to acquire at lowest possible level. As indicated by the chart, these registrations have had their individual and cumulative effects over the last few weeks. Does the odd lot of 38,500 mark the end of Cal's registrations? I was told today with certainty that this is the end of it, and that we should look for an upturn, as much as $1 per day to the $5's and $6's starting early next week when the last of it is sold. A point emphasized by company officials and reiterated today is that Cal's selling is unrelated to the company's current situation. He simply needed to raise cash for his own reasons and these shares were likely acquired for 50 cents or a dollar. We should keep in mind that the very fact Cal felt free to sell indicates that he is not aware of any major problem with the company or its ability to produce batteries. If he is, he would be acting on information not known to the public and his actions would invite lawsuits and serious trouble with the SEC. A large shareholder and investment veteran I spoke with today views Cal's selling as re-assurance of no major problems, and, since he has no margin worries, is not concerned with the price dip and sees the short-term effect as a buying opportunity. A consistently-conservative company official, who I have never heard say anything of the kind before, told one of my contacts a few days ago "If I could, I would buy stock now!" He is an insider, of course, and the company is in a quiet period. Here's to a better weekend! Regards, FMK