VALENCE TECHNOLOGY (VLNC) Message Board

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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: Greg McDaniel who wrote (14520)	9/11/1999 8:40:00 PM
From: Larry Brubaker	Read Replies (1) of 27311

<<I remember you insisting you never shorted stocks. Is my memory bad?>> Greg, no your memory is not bad. I said some time ago I didn't short stocks. However, a couple of months ago I got a margin account and have shorted a couple of times (and did not keep this a secret from my VLNC friends). Mainly short-term trades of internet stocks a month or so ago when the internets were in free fall. The only short I've held for more than a few days is UOLP, which is another floorless victim, and that turned out to be my most profitable trade of the year so far (bought at $3.75, sold at $8). Basically, there are two reasons why I added margin so I could short. The first is that I think many stocks, particularly the internets are grossly overvalued, and I want to be able to short them when the time is right. The second reason is what I've learned from researching stocks with floorless financing, particularly from watching VLNC on a daily basis over the last year. I think I've picked up some insight about how the game is played and I'd like to profit from it. BTW, all my holdings right now are long.

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