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

To: Chisy who wrote (13142)	7/16/1999 10:33:00 AM
From: Rich Wolf	Read Replies (2) \| Respond to of 27311

Yep, it's coiled tightly. As I've argued before, I don't believe CC has a large short position. If CC covered a prior huge short position, someone else took their place in the interim at very low prices (7's). (Short position has grown every month.) Don't see that scenario at all, Zeev. CC would have to short so many shares to get down to where they could get more shares, that they'd be lucky to break even on the deal. No, we won't get a variable conversion coming up. That's merely a thesis other shorts are putting out for the little investors to be afraid of, so they'd lighten up, and sell back so these shorts can cover. CC knows who bought the $3M of stock recently, and that this buyer wants more. They won't short merely to give it to them. CC also knows Valence's proximity to commercial contracts. It would be foolish for them to sell their position right at the time frame when positive events are unfolding. In summary, it's not CC selling here, and we won't see a variable conversion. Doubt we'll see the 5's at all. Of course, since NO ONE here has the data necessary to draw conclusions, these are all just speculations, be they mine or Larry's. It stretches the imagination to think CC would risk so much for so little gain, hence Occam's Razor suggests that my scenario is more likely.