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

To: hcirteg who wrote (9869)	3/26/1999 8:00:00 PM
From: P. Ramamoorthy	Respond to of 27311

Hi HC, Re.: "...Looks like some stop losses..." May be. This week's trading (starting last Thursday Mar 18) looks like the effect of the CC filing. Some small fund managers or large stockholders did a mid-course correction. Panicked to see the filing and recovered their confidence by the end of this week. Warning - Only a tea leaf theory, here it is. Mar 18 (Thu) SEC filing in the works, stock closes up on 108K shares (round off share volume) Mar 19 (Fri) SEC filing - CC to sell. Panic hits. Selling starts. 161K stock down from 7 3/16 to 7 Mar 22 (Mon) more panic selling, 113K stock down from 7 to 6 19/32 (total knee-jerk selling vol = 161+113 = 274K) Mar 23 (Tue) panic selling continues, 291K stock down from 6 19/32 to 6 1/8, some longs are getting worried now, (total selling vol = 274 + 291 = 565K) Sellers realized their "knee-jerk" reaction to CC filing and want to get back in the stock before it goes to the moon. Mar 24 (Wed) buying starts, 78K vol stock up from 6 1/4 to 6 1/2 (total buy vol = 78K) Mar 25 (Thu) panic buying goes into full gear, 379K vol stock up from 6 3/8 to 7 7/8 total buy vol = 78+ 379= 457K) Mar 26 (Fri) buying continues, UNTIL 3:15 PM holding 7 3/8 in the last last hour, price is down in two steps to 6 7/8. 140K vol stock down from 7 7/8 to 6 7/8 (Figure 80K up vol vs 60K down vol) total buy vol = 457+80 = 537K close to 565K panic sell vol) What next? Back to the holding pattern? May be. Need much stronger demand if the contract news is around the corner. Ram