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

To: David Penfield who wrote (13325)	7/23/1999 12:06:00 PM
From: Rich Wolf	Read Replies (1) \| Respond to of 27311

David, there will be no death spiral mechanism enacted here. Castle Creek has a lot more money to make by staying long. If they destroy the stock, Valence cannot get adequate financing and goes under. Castle Creek would be killing the golden goose. This is not what they invested for, and this is not what is being played out here. Call Castle Creek yourself and see if they'll tell you whether they are shorting here, or covering the relative handful of shorts they likely made above $10 last fall.