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

To: hcirteg who wrote (8969)	3/6/1999 10:23:00 AM
From: P. Ramamoorthy	Read Replies (2) \| Respond to of 27311

HC - Re.: "...Higher prices and good news to come!..." I also wish this to become true. If Lev had hoped "the price will move up into the teens" before doing the secondary, he has only about 3 weeks to accomplish it, (before running "out of cash by March 31"). It is hard to see how VLNC can hold a stable price level in the teens in the next two weeks, without any "material event" announcement. Whoever buys the secondary will be aware of this and may be willing to ignore the market evaluation of VLNC. Delays could occur because of OEM's. Even the "rumored" 30 days of quiet period will put us around March 31 or so. It may take a couple of weeks for the market to work the price to a stable level because a quick double will trigger some profit-taking and some turnover. News releases like VP appointment, or battery going to Mars, etc. may cause a short "exuberance" but may not be enough to give the support for the price at a higher level. Need a solid sales contract for the real support. I do not see how Lev's scenario will be possible, before the end of March 31, especially if VLNC has no control over the timing of news releases of sales contracts. The additional caveat "independently verifiable" makes it imperative that OEM's have to come out with news releases. Castle Creek sell off - If CC's short-selling is true, the stock is showing a remarkable strength around 7. At the close last Friday, the volume picked up. I am not sure if this was a signal for another short "exuberance" or a serious announcement is around the corner. Waiting with optimism. Ram