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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: kolo55 who wrote (13977)8/26/1999 9:17:00 PM
From: Larry Brubaker  Read Replies (2) of 27311
 
Paul, it seems that you are now acknowledging that Castle Creek is likely to be shorting the stock (despite FRB's claims to the contrary). I guess you've changed your mind from a few months ago when you adamantly claimed that they would have to report any changes in beneficial ownership to the SEC?

Second, you point out that any shorting by Castle Creek is not necessarily without risk, as has been the case since the price went below the conversion ceiling. Did you consider that if Castle Creek is willing to take the risk of shorting below the conversion ceiling, what that says about their opinion of the direction of the price?

Also, your scenario about a possible abatement of the supposed short attack is not playing out. Today's closing bid price was the second lowest of the last 10. As long as the price keeps falling, there is no reason for Castle Creek to let up (assuming they are at least partially responsible for the pressure on the stock).
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