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

To: Robert Einstein who wrote (4390)	10/10/1998 9:16:00 AM
From: Greg McDaniel	Read Replies (1) \| Respond to of 27311

Robert, Several positive indicators are showing up for this stock. IBD Relative strength of the stock is better than 71% of the market. That is a 40+ point move in the last 2 months. Money flow indicator has been bullish since mid August.It was bullish just before the May run up to 7 dollars as well as bullish just before the run up to 6 dollars in June. Now we have insider buying. The stock is trading just above 50 dma with its 17 dma moving up through the 50 dma. As John Curtis stated last weekend though it is difficult swimming upstream while the rest of the market is getting trashed. here is explanation of the money flow indicator Definition: This indicator, developed by Marc Chaikin, is a measure of money "flowing" into a stock or out of a stock, similar to the concept of accumulation/distribution: The calculation determines where the stock closed today, in relation to its range for the day (high price - low price). That value is then multiplied by today's volume: Therefore, if a stock's closing price is closer to the high of the day than to the low of the day, a positive value will be multiplied by the volume. But if a stock's closing price is closer to the low of the day than to the high of the day, a negative value will be multiplied by the volume. Now this calculation is made for the last 21 days, and those values totaled. That sum is divided by the total of the stock's volume for the last 21 days to arrive at the Chaikin Money Flow indicator. High values indicate money moving into a stock (buying pressure), and low (negative) values indicate money moving out of a stock (selling pressure).