VALENCE TECHNOLOGY (VLNC) Message Board

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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: Zeev Hed who wrote (12788)	7/5/1999 10:38:00 PM
From: Larry Brubaker	Read Replies (2) of 27311

<<if that is the case, why is the stock holding so well?>> Ah, the $64,000 question. One theory is that Castle Creek has supported it til now so they can maximize their short position at the highest price. I think we may have also seen some Russell 2000-related buying last week. If this theory is correct, the size of the short position suggests that Castle Creek may be about done supporting the stock. Any support related to the Russell 2000 should also be coming to an end because I think the index funds try to make their reconstitution adds by July 1. On the other hand, maybe somebody is supporting the stock because there is good reason to do so, as you suggest. I don't think its going to be much longer before we know one way or another.

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