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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: kolo55 who wrote (14718)9/21/1999 7:40:00 PM
From: Zeev Hed  Read Replies (1) of 27311
 
Paul, I think that the point I tried to make is important and does not contradict your point either. Often short raiders will continue to short a stock as it declines (since their collateral requirement declines as well, thus allowing for more shorting without committing additional resources, if they are naked, of course) and thus the addition of even $500,000 shares at lower prices than their earlier average shorting position still will not put any severe pressure on them even if those shorts were at prices lower than current one. Unfortunately, the report this Friday would not show any decline of the short position if CC used the shares from the conversion to cover the short (presumed) position they have. For that we'll need to wait another month. Those bandits use the calendar to their advantage to lengthen the window of time in which the market is left to guess what it is they are actually doing.

Zeev
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