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Strategies & Market Trends : Floorless Preferred Stock/Debenture
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To: Zeev Hed who wrote (491)6/26/1999 12:37:00 PM
From: Larry Brubaker  Read Replies (1) of 1438
 
Zeev, I agree with your perception that Castle Creek has probably been providing the support for VLNC above the $6 ceiling, and then re-shorting when the stock gets above $8.

But the steadily increasing short position (another 450,000 shares in the last two months) may be telegraphing their intent to withdraw this support. If they thought a material order was imminent, I don't see why it would be in their interest to increase their short position.
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