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

To: shasta23 who wrote (2077)	2/9/1998 1:28:00 AM
From: Larry Brubaker	Respond to of 27311

Stefan: A couple of weeks ago, Zeev commented on another thread the technicals of VLNC didn't look good. I tried to stimulate his interest enough to look at the fundamentals. Haven't heard from him about VLNC since. I know he is busy starting up his own company, so maybe he didn't find the time. Actually, I feel a lot more comfortable with VLNC now than I did Friday afternoon. Friday afternoon I was really starting to wonder what was wrong. But FMK's information about the size of Cal Reed's sales goes a long way to explain the weakness in the stock. My guess is that at least some of that money is being plowed right back into VLNC stock. If CR is exercising options, he is not buying in the market, so all the market sees are the sells. The company has been consistently saying (at least to analysts such as at Red Chip) that they are very likely to go into production this quarter. Having just prevailed in a shareholder lawsuit, I'm sure the company is well aware of the potential consequences of misleading investors. So, all in all, I feel more comfortable now that the company remains on track for production in the near future. It would be nice to see the selling end and some buying come in. I think if the stock can break $5.5, the technical picture will have reversed, and we might see some momentum players jumping back in. If that happens, we could be back in the high single digits before we get any real news.