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

To: FMK who wrote (9318)	3/14/1999 1:16:00 PM
From: Larry Brubaker	Read Replies (1) \| Respond to of 27311

FMK, You quoted your source as mentioning 100,000 shares (or 1,000 options contracts). Even if mooter's information is correct and the number of outstanding contracts declined by 800, that is not the 1,000 mentioned by your source. And that assumes your source was responsible for all of the reduction in outstanding options contracts over the course of the week. Furthermore, you brought this up as a reason why Valence's price should go up next week. As we saw, there was little options-related activity on Friday. Whoever had to deliver those shares either already had them to deliver, or was not scrambling in either the options or stock market to find them. Therefore, your original statement that this delivery of shares should cause the price to rise is not born out by the facts.

To: FMK who wrote (9318)	3/14/1999 1:17:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 27311

Fred, ease it, I have already agreed that a double citing of the same information made some sense and have explained a variety of way the closing of that position could take place. I have not seen a site with last week's opening position, but I presume Mooter has, I have no reason to doubt him or you, I just was looking for confirmation, unfortunately, I do not have access to a site with these data. If anyone has last week Barron's, he could look at last week closing position and report. I do not have last week Barron's either. You must admit that it would be unusual for a single person holding 57% of the open position in a given option, unusual, but not impossible. Zeev