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

To: Vegas Kate who wrote (3482)	7/26/1998 2:23:00 PM
From: Gordon Quickstad	Respond to of 27311

I think it's good to hear from you again, Kate. We may even come to think of you as Henderson Kate. :-)

To: Vegas Kate who wrote (3482)	7/26/1998 9:11:00 PM
From: Pallisard	Read Replies (1) \| Respond to of 27311

Hi Kate Your strategy's fine if you're in around 5 and want a relatively small return. Many longs are averaged in a little higher and have been holding for a long time (no pun intended). I, for one, would be quite unhappy if I sold calls at 5 against my position, and it suddenly jumped to 15 because, rightly or wrongly, I'm waiting for what I believe will be a "grand move". If you're more bullish than bearish on Valence then you'd be better off to sell puts if your account allows it. IMHO Good luck to you. Pallisard