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Technology Stocks : VALENCE TECHNOLOGY (VLNC) -- Ignore unavailable to you. Want to Upgrade?

To: Dennis V. who wrote (12687)	7/2/1999 2:48:00 PM
From: BelowTheCrowd	Read Replies (1) \| Respond to of 27311

Dennis, > Most of the "world conquest" scenarios have been put out by one person, a relatively thin basis for shorting < True enough. But, in my opinion, the stock price reflects an expectations of higher earnings than are likely in any forseeable timeframe. And that's not the primary reason I shorted the stock. I shorted it because I believed their financials would reveal them to be in worse shape than expected. That happened, and the stock barely moved on the news. True, it may move when some kind of financing deal is consummated, but I'm not holding my breath. And I agree that it's somewhat thin. And thus, one of the first postions I chose to close as my overall market views have become more bullish, and my desire to hold "weak shorts" as a hedge has decreased. mg