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

To: Larry Brubaker who wrote (6183)	12/21/1998 4:13:00 PM
From: Zeev Hed	Respond to of 27311

actually, if you remember few months back when you brought VLNC to my attention, it was just breaking through the 5.25 to 5.5 area, and I felt a breakout would be quite positive, well, this area should be a strong resistance, and I was just notified that I filled at 5-7/16. I am playing this for a simple DCB to about $6.5 to $7. I go to make back my loss from 8.25 to 7-9/16 after all. I like to get even with those bandits (VBG). After that, it all depends on the technical action. Fundamentally, management has shown again that Mr Murphy is greater then the greatest of them all. They have a six month delay relative to plan, and that leaves the widow open to others to establish themselves in the market. I just bought a little ULBI at the same price, it will be interesting to see which one will do better. I bet that VLNC will do better in the short run, just because of some short covering. Long run, I know not which is the better play. ULBI has some sales and an existing cash flow, thus they have quite an advantage. They do not have any floorless and they have some JV that look as promising as those of VLNC. They are also priced much closer to book then VLNC. So here I am again, lets hope it bounces up as fast that it dropped, I am already losing money on this new position, Ouch. Zeev