VALENCE TECHNOLOGY (VLNC) Message Board

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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: kolo55 who wrote (15526)	10/29/1999 10:16:00 AM
From: Larry Brubaker	Read Replies (2) of 27311

Paul, your scenario that Castle Creek has run out of gas assumes that they have not done any covering. For example, if they were pretty sure that VLNC still has no immediate prospects for contracts... they would make much more money by continually shorting at high prices, let the price go down, cover at low prices...let the price go up. Repeat. Rather than simply shorting down to whatever conversion price they are looking for, and then converting. This is what I think they were doing the first 6 months of the year, when we saw the trading range between $6.5 and $8.5. Are you certain this is not what is going on now? Your deep pockets supporting the stock at $4.5 could easily be Castle Creek and friends, just as they were likely the deep pockets supporting the stock at $6.5 for many months. Just a thought. Once again, we should know much more by 11/11.

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