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

To: Larry Brubaker who wrote (14497)	9/10/1999 8:48:00 PM
From: Dennis V.	Respond to of 27311

Larry, maybe I misunderstood. After all this time, you know I like to read between the lines, with uneven results to be sure. My initial take was: "Paul, how do you explain the fact that your lack of findings do not support our pet theory that Castle Creek is engaging in a rolling short? This lack of evidence is intolerable and clearly suggests that your research is flawed. Explain this apparent discrepancy, and remember you're under oath"(BG). Have a good weekend, everybody.

To: Larry Brubaker who wrote (14497)	9/10/1999 11:08:00 PM
From: Rich Wolf	Read Replies (2) \| Respond to of 27311

Larry, Paul's dismissal of your hypothesis was not 'out of hand.' As I've posted previously, many of us have been tracking level II quotes for the last few months, and we have a pretty good idea which MMs are shorting and which are long. The short MMs covered nil in the 4s, sold more in the high 4s and 5s, and covered very little as the stock retraced to where it is today... unless they did it through open market purchases from other short MMs who tried to contain the ask at times. <VBG> Paul's got it right, from what I've seen of the tape.