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

To: jim heger who wrote (3837)	8/20/1998 9:54:00 AM
From: John Curtis	Read Replies (1) \| Respond to of 27311

Jim: Current bid/ask = $4 x $4 1/16. Let's see if this develops into some sort of bounce, eh? But I do agree that without a VLNC public announcement of successful completion of milestones, then DESPITE all the good indications provided via the last c.c. the general Street reaction's gonna be one of suspicion and distrust. After all, as L.D. himself said, "VLNC has an image problem on Wall Street." It's this distrust that allows all the mischief we see right now. If you're long then you've just gotta have patience and don't paint yerself into any margin type corner. It's waaaay too soon to exercise THAT particular strategy. Hmmm.....as I wrote this the bid's been moved back down to $3 15/16. Despite the end of day buying(which MAY have been short covering to a certain extent--remember July data indicated the short position had tripled), trading direction in VLNC is still unclear. I don't yet see conclusive positive pressure, indeed I still expect margin pressure to hold VLNC down, at least through end of week. This is imho, of course. Now I see the bid/ask is $3 13/15 x $3 15/16. Yes sir, mischief indeedy. John~