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

To: John Curtis who wrote (4643)	11/2/1998 3:32:00 PM
From: ken carney	Read Replies (1) \| Respond to of 27311

this week down or stabilizing....next week up...the week of the 16th vaboooooom

To: John Curtis who wrote (4643)	11/2/1998 6:42:00 PM
From: Verns1	Read Replies (1) \| Respond to of 27311

John Have you or anyone else out there confirmed with a broker that analyst visits to NI have been made, or are about to be made? thanks Vern

To: John Curtis who wrote (4643)	11/2/1998 8:59:00 PM
From: lws	Read Replies (1) \| Respond to of 27311

Hi, John, Thanks for reposting the article vis middlemen; it reconfirmed my understanding of the market process (and added the doubling-redoubling twist to think about). The question I raised about the sources of Tuesday's (Oct 27) selling remains, however. Your middleman article treats the mechanics by which the middlemen can maneuver the price downward, but the mechanics presume willing sellers. At the extreme of a "sellers' strike," for example, it would not work at all; the middlemen (as a group) would have to close their positions at higher prices. In this sense, the mystery for me of the huge sales volume of last Tuesday is where the huge volume of selling came from. No doubt some came from middlemen buying and selling among themselves, and no doubt some came from traders taking profits if they got in early and minimizing losses if they got in late. But I don't think these factors alone account for the million plus share volume, a volume at least 5 times normal. I have to wonder if there are more weak hands holding shares than we might like to think. Tuesday sure seemed to flush out a lot. It was a striking contrast with the prior day, when it looked like a lot were buying in for more than a quick trade. Regards, lws

To: John Curtis who wrote (4643)	11/2/1998 10:47:00 PM
From: Robert Cohen	Read Replies (1) \| Respond to of 27311

If I remember correctly, the 2 top volume market makers in VLNC are MASH and NITE. They both pay for order flow and are not usually involved in maintaining a proprietary end of day position either long or short. Rather they just provide order flow and are happy to make the spread. In addition the volume for NOV calls is nil. I am a little concerned that the recent price decline is not due to MM "games". If news were eminent I would also expect significant NOV and DEC call option volume. Still very long but more than a little anxious. Robert